You do not need a checking account to create a GoFundMe campaign, but you will need one to receive the money people donate
GoFundMe lets you set up a campaign with just an email address and a phone number. You can write your story, upload photos, and share the link with friends and family without ever connecting a bank account. The platform does not require a checking account at the moment you launch.
However, once donations start coming in, GoFundMe will ask you to add a bank account before they release the funds to you. You cannot withdraw money without one. If you do not have a checking account when you are ready to cash out, you will have to open one before GoFundMe transfers your donations.
Some people use a savings account instead of a checking account, and GoFundMe accepts both. The key requirement is that the account be in your name and that you be able to verify ownership through your bank's routing and account numbers.
Key Takeaways
- You can create and launch a GoFundMe campaign using only an email address and phone number, with no bank account required at setup.
- GoFundMe will not release donations to you until you add a verified bank account, whether checking or savings.
- The account must be in your own name and linked to your Social Security number for verification purposes.
- If you do not have a bank account when donations arrive, you will need to open one before you can withdraw the money.
- The verification process typically takes a few business days once you provide your routing and account numbers.
What happens if you launch without a bank account
Donations will sit in your GoFundMe account and accumulate there. You will see the total growing, but you cannot move the money anywhere. GoFundMe holds it in a holding status until you complete the bank verification step.
This does not hurt your campaign or discourage donors. People who give money do not see any delay or problem on their end. The hold only affects you when you try to withdraw. If your campaign is successful and you have raised several hundred or several thousand dollars, you will be prompted to add a bank account the first time you request a withdrawal.
Some campaigns run for weeks or months before the organizer tries to cash out, so the lack of a bank account at launch is not unusual. Just know that you cannot access the money until you add one.
How to add a bank account to your GoFundMe after launch
Log into your GoFundMe account and go to your campaign dashboard. Look for a section labeled "Withdrawals" or "Bank Account" — the exact wording varies depending on whether you are on a computer or phone. Click the option to add a bank account.
GoFundMe will ask for your routing number and account number. You can find both on a check, or log into your bank's website and look for account details. You will also need to provide your full legal name, date of birth, and the last four digits of your Social Security number so GoFundMe can verify you own the account.
Once you submit this information, GoFundMe sends it to their payment processor, Stripe, which verifies the details with your bank. This usually takes two to three business days. After verification is complete, you can withdraw your donations whenever you want.
What type of bank account works with GoFundMe
A standard checking account is the most common choice, but GoFundMe also accepts savings accounts, money market accounts, and some other deposit accounts. The account must be held at a U.S. bank or credit union and must be in your personal name.
Joint accounts can work, but GoFundMe requires that the primary account holder (the person whose name appears first) be the same person who created the campaign. If you created the campaign under your name, you cannot link a joint account held by you and someone else.
Business accounts and accounts held in a business name do not work with GoFundMe's personal campaign withdrawal system. If you are raising money for a business or nonprofit, you may need to set up a different type of campaign or use a different platform.
Alternatives if you do not have a bank account
If you do not have a bank account and do not want to open one, you have a few options. Some people ask a trusted family member or friend to open a campaign under their name and link their account, then transfer the money to you afterward. This works, but it means someone else controls the campaign and the funds temporarily.
You could also open a basic checking account at a bank or credit union before launching your campaign. Many banks offer no-fee checking accounts that require only an ID and a small deposit or no deposit at all. Credit unions sometimes have even lower barriers to entry. This takes a day or two but gives you full control of your campaign and your money.
Some online banks like Chime, Ally, or Marcus by Goldman Sachs offer accounts that can be opened entirely on a phone in minutes. These accounts work with GoFundMe just like traditional bank accounts do.
What information GoFundMe needs to verify your account
Beyond your routing and account numbers, GoFundMe collects personal information to prevent fraud and comply with financial regulations. You will need to provide your full legal name as it appears on your bank account, your date of birth, and your Social Security number (or the last four digits).
GoFundMe may also ask you to verify your identity by uploading a photo of your driver's license or passport. This step is more common if you are withdrawing a large amount or if GoFundMe's system flags your account for additional review.
All of this information is encrypted and sent to Stripe, GoFundMe's payment processor. GoFundMe does not store your full Social Security number or the complete bank account number after verification is complete.
How long it takes to withdraw money after adding your account
Once your bank account is verified, you can request a withdrawal at any time. GoFundMe processes withdrawals on a rolling basis. Most transfers arrive in your bank account within one to three business days, though some banks take longer to post the deposit.
You can withdraw all your money at once or in smaller amounts over time. There is no minimum withdrawal amount, and GoFundMe does not charge a fee to move money from your campaign to your bank account. (GoFundMe does take a platform fee when people donate, but that is separate from the withdrawal process.)
If your withdrawal does not arrive within five business days, contact GoFundMe's support team with your bank name, the date you requested the withdrawal, and the amount. They can investigate whether the transfer was delayed by your bank or if there was a problem on GoFundMe's end.
Frequently Asked Questions
Can someone else's bank account be linked to my GoFundMe campaign?
No. The bank account must be in your name, and you must be the one who created the campaign. GoFundMe requires this match for security and legal reasons. If you want someone else to help manage the money, you can transfer it to them after it reaches your account.
What if I close my bank account after linking it to GoFundMe?
If you close the account, your next withdrawal will fail and GoFundMe will ask you to add a new one. You should update your bank account information in your GoFundMe settings before closing an old account, or do it immediately after opening a new one.
Does GoFundMe work with prepaid debit cards or online-only banks?
Most online banks like Chime and Ally work fine with GoFundMe. Prepaid debit cards usually do not, because they are not linked to a routing number in the same way a bank account is. Stick with a traditional checking or savings account at a bank or credit union.
Can I withdraw money from my GoFundMe campaign to a different account than the one I used to create it?
Yes. You can change your linked bank account at any time in your campaign settings. The new account must still be in your name and must pass GoFundMe's verification process, which takes a few business days.
What happens if GoFundMe cannot verify my bank account?
GoFundMe will tell you why verification failed — usually because the routing or account number does not match your bank's records, or because the name on the account does not match the name on your campaign. Double-check the numbers and try again, or contact your bank to confirm the correct routing number.