Making a Donation to GiveWell via Electronic Funds Transfer (EFT)
GiveWell is now able to accept one-time and recurring EFT (Electronic Fund Transfer) donations from donors with US banks accounts via our online donation form here. Choose ACH (Automated Clearing House) as the payment method and provide the appropriate banking information when prompted.
GiveWell is charged 0.8% + $1.00 account validation fee on each initial ACH transaction, but the overall fees on an ACH donation are capped at $5.60. (For recurring monthly or quarterly donations, GiveWell is charged 0.8% + $1.00 on the initial transaction, and 0.8%+ $0.40 per transaction on each subsequent transaction up to $5.60.) There is no additional administrative work for GiveWell to process ACH transactions.
Because the costs to GiveWell are capped, this is the most cost effective way to make large donations. If you donate $100, Givewell will receive $98.20. If you donate $1000, GiveWell will receive $989.40.