What is Givebutter Wallet? 🏦
Wallet is a free, built-in financial account that helps your nonprofit seamlessly manage funds from your Givebutter dashboard, with extra rewards! Powered by Stripe Treasury, Givebutter Wallet lets you receive, track, and withdraw funds directly from your Givebutter account. There are no fees, no minimums, and best of all, your balance earns APY rewards automatically. Wallet offers a secure, integrated way to manage your fundraising finances – all in one place.
We take privacy seriously, using industry-standard encryption, verifying the identities of all authorized representatives, and monitoring compliance on an ongoing basis.
FDIC insurance information
FDIC insurance information
Givebutter Wallet accounts are eligible for pass-through FDIC insurance up to $250,000 USD per depositor through Fifth Third Bank N.A., Member FDIC. Stripe Treasury Accounts are eligible for FDIC pass-through deposit insurance if they meet certain requirements. The accounts are eligible only to the extent pass-through insurance is permitted by the rules and regulations of the FDIC, and if the requirements for pass-through insurance are satisfied.
The FDIC insurance applies up to $250,000 USD per depositor, per financial institution, for deposits held in the same ownership category. Neither Stripe nor Givebutter are an FDIC insured institution and the FDIC's deposit insurance coverage only protects against the failure of an FDIC insured depository institution.
Givebutter partners with Stripe Payments Company for money transmission services and account services with funds held at Fifth Third Bank N. A., Member FDIC. Givebutter Wallet Visa® Commercial cards are powered by Stripe and issued by Celtic Bank.
How it works 🔎
Set up your Wallet account by adding a few additional details about your organization and leadership.
Donations from your Givebutter campaigns are added to your Wallet daily. You can also deposit funds from a linked bank account. Your entire balance begins earning APY rewards immediately!
Track incoming and outgoing funds and rewards in real-time.
Quickly transfer funds to and from your connected bank accounts anytime. Transfers from Wallet to a bank account utilize same-day ACH, so transfers initiated before 1pm ET arrive the same day.
Easily download monthly Wallet statements and tax documents as needed from your Documents tab.
Creating a Wallet account 📝
Eligible new Givebutter users can create a free Wallet account in the dashboard by navigating to the Finance page and going to the Wallet tab. (Please note that only Admin or Finance account roles have access.) You must complete onboarding and connect a bank account to get started with Wallet.
Existing users 💛
If you're an existing Givebutter user, you'll still have a Payouts page rather than a Finance page. You can optionally enable Wallet by heading to your Payouts page and upgrading for free. Once upgraded, you'll have a Finance page, and your Payout information will be located in the Payouts tab.
Your campaign funds (all transactions from all campaigns) will flow into a single balance, rather than separate per-campaign payouts. This change, called "single-balance Payouts", allows you to withdraw your total available balance across all campaigns. You can still report on transactions per campaign by exporting CSV reports from the Payouts tab.
⚠️ It is not possible to revert to per-campaign balances after upgrading. Single-balance Payouts will take effect regardless of whether or not you complete Wallet onboarding.
Using Givebutter Wallet 💰
Givebutter Wallet is located in your dashboard's Finance page, which includes a few different tabs:
Wallet – Create a Wallet account, and manage deposits, transfers, and rewards.
Payouts – View payouts, initiate standard or instant payouts, or export reports.
Documents – Access your tax history (ie, 1099-MISC or 1099-K) and Wallet monthly statements. This tab will appear if you have created a Wallet account.
Settings – Manage your Stripe Connect information.
Adding funds ➕
There are two ways money gets added to your Wallet:
Automatically, from your Givebutter campaigns – Settled donations are added to your Wallet once daily, and the total balance is posted as a single amount, rather than individual transactions.
Direct ACH transfers from a connected bank account
Once funds are settled, they’ll appear in your Wallet balance and are immediately eligible to start earning APY rewards.
APY rewards 🎁
Givebutter Wallet automatically rewards nonprofits with 2.5% APY rewards on funds held. This reward (not interest) is credited monthly to your Wallet account. Reward calculations are based on total daily balances.
The APY reward rate is variable and may change without notice.
Moving funds 💸
Transferring funds in or out of your Wallet account is fast and easy. Standard withdrawals to connected bank accounts are free and utilize same-day ACH, so transfers initiated before 1pm ET arrive the same day. Transfers intitiated after 1pm ET will arrive the next business day.
Move funds from a bank account to Wallet 📥
Move funds from a bank account to Wallet 📥
The Deposit button moves money into your Wallet account from a bank account. Funds will typically appear in your account within 4-5 business days via ACH. Transfers made on weekends or holidays will be processed the next business day.
In your Finance page, navigate to the Wallet tab and click the Deposit button in the upper right.
Enter the amount you'd like to deposit into your Wallet account.
Select the connected bank account you want to transfer from, or link a new bank account.
Select the Wallet account you want to transfer funds to, and click Next.
On the next screen, verify that the information is correct, and click Deposit.
Move funds from Wallet to a bank account 📤
Move funds from Wallet to a bank account 📤
The Transfer button moves funds (withdraws) from your Wallet account to any of your connected bank accounts. Funds should appear in your bank account the same day for transfers initiated before 1pm ET, and the next business day for transfers initiated after 1pm ET.
In your Finance page, navigate to the Wallet tab and click the Transfer button in the upper right.
Enter the amount you'd like to transfer out of your Wallet account.
Select the Wallet account you want to transfer from.
Select the bank account you want to transfer funds to, and click Next.
On the next screen, verify that the information is correct, and click Transfer funds.
Documents 📄
If you have Wallet enabled, you’ll also see a Documents section. This is where you can access your monthly Wallet financial statements and any applicable tax documents (ie, 1099-MISC or 1099-K). These documents are downloadable and ideal for accounting and year-end reporting.
Wallet statements are generated on the 3rd of each month.
Wallet FAQ 🤔
Is Wallet free to use? Who can use Givebutter Wallet?
There are no monthly fees and no minimum balance. Wallet is currently available to US and Puerto Rico-based nonprofits and registered businesses that have no beneficiary campaigns on their accounts. You do not need to be a verified nonprofit account on Givebutter to use Wallet.
What are APY rewards? Are APY rewards taxable?
Givebutter provides a reward in the form of an annual percentage yield (APY) on the money you hold in Givebutter Wallet – it is not interest. The rate is variable and subject to change without notice. The reward is paid monthly as a credit to your Wallet account. In some cases, APY rewards are taxable. If you earn $600+ in rewards in a calendar year, Givebutter will issue a 1099-MISC. We recommend checking with your tax advisor for questions about your specific situation.
Can I still withdraw funds per campaign?
No, Wallet consolidates all campaign funds into a single balance. Existing Givebutter users who haven't upgraded to Wallet will continue to see per-campaign options, and can upgrade to use Wallet at any time.
Is my account eligible for FDIC insurance?
Givebutter Wallet accounts are eligible for pass-through FDIC insurance up to $250,000 USD per depositor through Fifth Third Bank N.A., Member FDIC. Stripe Treasury Accounts are eligible for FDIC pass-through deposit insurance if they meet certain requirements. The accounts are eligible only to the extent that pass-through insurance is permitted by the rules and regulations of the FDIC, and if the requirements for pass-through insurance are satisfied.
The FDIC insurance applies up to $250,000 USD per depositor, per financial institution, for deposits held in the same ownership category. Neither Stripe nor Givebutter is an FDIC-insured institution, and the FDIC’s deposit insurance coverage only protects against the failure of an FDIC-insured depository institution.
Where can I learn more about Stripe Treasury and the terms of use?
Givebutter partners with Stripe Payments Company for money transmission services and account services with funds held at Fifth Third Bank N. A., Member FDIC. By using Givebutter Wallet, you agree to the Stripe Services Agreement and Stripe Treasury Terms.