You do not need a checking account to create a GoFundMe campaign, but you will need one to receive the money

GoFundMe lets you set up a campaign with just an email address and a phone number. The platform does not check your bank account status during signup. However, when donors send money and you want to withdraw it, GoFundMe requires a valid U.S. bank account — checking or savings — to transfer the funds to. If you do not have an account, you cannot move the money out of GoFundMe.

This matters because money sits in your GoFundMe account until you withdraw it. You cannot spend it directly from the platform. The withdrawal process is where the bank account requirement kicks in, and it happens through a service called Stripe, which GoFundMe uses to move money between institutions.

Key Takeaways

  • You can create and share a GoFundMe campaign without a bank account, but you must have one before you can withdraw any money that is raised.
  • GoFundMe accepts both checking and savings accounts, as long as the account is in your name and is held at a U.S. bank or credit union.
  • The withdrawal process requires you to verify your identity and provide your routing number and account number, which takes a few minutes to set up.
  • If you do not have a bank account, opening one before launching your campaign saves time later when donors have already contributed.

What happens when you set up a GoFundMe without a bank account

When you create a campaign, GoFundMe asks for your name, email, phone number, and the reason for the fundraiser. It does not ask about your bank account at this stage. You can write your story, upload photos, set a goal amount, and share the link with friends and family without ever connecting a bank account.

Donations will come in and appear in your GoFundMe account balance. You will see the money there, and you will receive notifications when people contribute. But that balance is held by GoFundMe, not in your possession. Until you link a bank account and withdraw the funds, the money stays on the platform.

When you need to add your bank account information

GoFundMe asks for your bank details when you try to withdraw money for the first time. At that point, you will need to provide your routing number and account number. GoFundMe uses Stripe to verify the account and process the transfer, which typically takes one to two business days.

If you wait until after donations arrive to open a bank account, you will have a delay between when people give money and when you can access it. The account opening itself takes a few days at most banks, but it is simpler to have the account ready before you launch the campaign.

Which bank accounts GoFundMe accepts

GoFundMe works with checking accounts, savings accounts, and money market accounts at U.S. banks and credit unions. The account must be in your name — you cannot withdraw to a joint account or someone else's account. If you have a basic savings account at a community bank or a checking account at a large national bank, either one will work.

Some online banks and credit unions process withdrawals the same way as traditional banks. If you are unsure whether your bank will accept the transfer, you can check your bank's routing number on its website or by calling customer service. GoFundMe will tell you if there is a problem when you enter the information.

How the withdrawal process works once you have a bank account

When you are ready to withdraw, you log into your GoFundMe account and go to your fundraiser page. There is a "Withdraw Funds" button that takes you through a short form. You enter your routing number and account number, confirm your identity (usually by answering security questions or uploading a photo ID), and submit.

Stripe processes the transfer on the next business day. The money appears in your bank account one to two business days after that. GoFundMe does not hold the money or charge a fee for the transfer itself, though Stripe may explore a small processing fee depending on your bank.

What to do if you do not have a bank account yet

Opening a checking or savings account takes 15 to 30 minutes online at most banks. You will need a photo ID, your Social Security number, and an initial deposit (which can be as small as $1 at some banks). Many banks let you open an account entirely through their website or mobile app without visiting a branch.

If you are in a situation where opening a traditional bank account is not possible, some credit unions and online banks have lower barriers to entry. Community Development Financial Institutions (CDFIs) also offer accounts to people who have been turned down by mainstream banks. However, GoFundMe requires a standard U.S. bank or credit union account, so you will need to work with one of those institutions.

Timing: when to open your account relative to launching your campaign

The best approach is to open your bank account before you share your GoFundMe link. This way, when donations start arriving, you can withdraw them when ready without a gap. If you have already launched a campaign and donations are coming in, you can still open an account and link it — there is no penalty for doing so later.

Some people worry that opening a new account will affect their credit. It will not. Opening a checking or savings account is not a credit event. Banks do a soft inquiry that does not show up on your credit report.

Frequently Asked Questions

Can someone else withdraw the money from my GoFundMe if I give them my bank account information?

No. Only the person who created the campaign can link a bank account and withdraw funds. GoFundMe verifies your identity before allowing a withdrawal, so even if you gave someone your account details, they could not complete the process without your login credentials and identity verification.

What if my bank account gets closed after I set it up with GoFundMe?

If your account closes, your next withdrawal attempt will fail. GoFundMe will notify you that the transfer did not go through. You can then link a different account and try again. The money stays in your GoFundMe balance until the withdrawal succeeds.

Do I need a checking account specifically, or will a savings account work?

A savings account works just as well as a checking account. GoFundMe accepts both. The only requirement is that the account is in your name and is held at a U.S. bank or credit union. Some people prefer to withdraw to a savings account for security reasons.

Can I withdraw to a prepaid card or PayPal account instead of a bank account?

GoFundMe does not support withdrawals to prepaid cards or PayPal. You must use a bank account or credit union account. If you do not have one, opening a basic savings account is the most straightforward option.

How long does it take to get money from GoFundMe once I have a bank account set up?

Once you initiate a withdrawal, the transfer typically appears in your bank account within one to two business days. Weekends and holidays can extend this timeline. GoFundMe processes the request on the next business day, and your bank completes the deposit after that.