When submitting your electronic funds transfer (EFT) application, the information provided in the form must be an exact match to the supporting document, and the supporting document must contain all required bank account details. If your application status is Invalid or Declined, it may be due to one of the below approval requirements:
- The Account Name on the form and/or the supporting document does not match the name on the cause profile.
Benevity can only disburse to a bank account with the same exact name as what’s listed on the corresponding cause profile. In the event of a name discrepancy, such as a school providing bank information for the school district, the supporting document must include a letter that addresses the account name discrepancy and confirm that the bank account can receive funds on behalf of your organization. This letter can be issued by your bank or signed by your organization’s board.
- The information on the form does not match the supporting document.
The form requires various details to be manually input, and that information is cross-referenced with the supporting document during the application review to ensure there is an exact match. A common error is an incomplete or incorrect number typed in the form.
- The supporting document is missing information, or it is not a valid supporting document.
All required fields within the form must be included in the supporting document. The document cannot be editable or include any hand-written information, and it must be issued by your bank. Some examples of acceptable supporting documents include a letter from your bank, a void check, or a bank statement. The accepted file types are PDF, GIF, JPG, JPEG or PNG.
- The bank account is in a non-local currency.
Disbursements can only be made to a bank account in your country’s local currency. For example, an organization located in the UK cannot provide a USD bank account.
Ready to submit a new application? Gather your supporting documents and log into the Causes Portal to sign up for EFT payments.