FAQs
What is a “Give for Good” Account, and what is its purpose?
Eastern Bank’s values of integrity, innovation, philanthropy, and our commitment to our customers and communities allow us to focus on more than just banking, investments, and insurance. We go above and beyond to help our customers and communities because they are what motivates us.
That is why we’ve worked hard on making it simple, safe, and convenient for our customers to support charities they are passionate about. We are excited to announce our Give for Good pilot, which aims to make modern charitable giving easy and simple for customers like you! Give for Good is a centralized place for Eastern Bank customers to budget their giving, discover great charities that align with their passions, and collaborate with other members of the community.
Why should I use a Give for Good account?
Give for Good accounts make managing your giving easier by centralizing your charitable activity in one place. The account is safe, simple, and makes budgeting and tax time a breeze!
- Simple and safe: Instead of having to enter your payment information on many different charities’ websites, you can fund your account and make donations directly from there. You’ll pick the charities and send funds to them when it’s convenient for you. We’ve also made it easy to discover charities that match your passions. We have almost every charity across the country available within our database!
- Easy budgeting: Your Give for Good account helps with budgeting by allowing you to make recurring or one-time deposits, and letting you build your account balance at your own pace. You can also set up recurring or one-time donations to support your favorite charities.
- Stress-free tax time: You can access all of your receipts in one place. It’s the modern way of managing your charitable giving.
Why not just donate directly to charities that I want to support?
Your Give for Good account is more secure, faster, and easier than giving directly to charities! Not only is it great for all of the reasons stated above, but by using Give for Good you’ll have one convenient place to store all your receipts for tax time. Give for Good will also never share your payment information with these organizations, instead of having to fill out your payment information on many websites or writing and sending personal checks through the mail, you can send money directly from your account to any charity in just a few clicks (whenever and wherever it suits you).
How does a Give for Good account differ from a Donor Advised Fund?
Similarities between Give for Good accounts and Donor Advised Funds (DAF) include the abilities to distribute funds to almost any charity in the country and to receive a tax acknowledgment immediately when you fund your account.
However, there are some important differences. Most DAFs have a significant minimum amount to open (sometimes as high as $25,000). Give for Good has no minimum. Most DAFs charge a fee based on the balance, while Give for Good is free to you as an Eastern Bank customer. Lastly, Give for Good is designed with donors like you in mind, making it easy to find and discover great organizations. There are also fun social capabilities built right into the experience (so you can make the impact that you want, wherever and whenever you want to).
Do I need to be an Eastern Bank customer to open a Give for Good account?
To open a Give for Good account, you need to be an Eastern Bank customer and be enrolled in Eastern Mobile and Online Banking. You also need to be one of our selected pilot participants.
How do I know if I have been selected to participate in the pilot?
First, log into your Eastern Bank Mobile or Online Banking experience. If under ‘Accounts’ you see a banner / button inviting you to learn more about Give for Good, then congratulations, you are a selected pilot participant! If you don’t see a Give for Good banner but are interested in gaining access to the platform, please contact us by phone at 1-800-EASTERN (327-8376) or email at info@easternbank.com.
How do I create a Give for Good account? Where do I access it?
If you are one of our selected pilot participants, opening your account is as easy as logging into your ‘Accounts’ and clicking ‘Learn More’ on the Give for Good banner on your accounts page. From there, you’ll just follow the steps to enroll! After enrollment, you’ll continue to access your Give for Good account in the same place you opened it – where the rest of your Eastern Bank Accounts live.
What are the fees for using a Give for Good account?
As a Give for Good user you will not be charged any fees for using your Eastern Bank Give for Good account. Your chosen charities will receive 100% of your donations.
How is a Give for Good Account funded?
Give for Good accounts can currently be funded electronically using your Eastern bank debit card, or a non-Eastern credit / debit card or bank account. Because our goal is to help you give when and where you want, if for any reason an initial transfer is rejected, we will try to execute this transaction for you three times. You may be assessed fees by your financial institution if there are insufficient funds in your account.
What is the minimum deposit to open an account?
There is no minimum. (An amazing, accessible opportunity compared to most DAF’s that have minimums as high as $25,000).
What is the minimum deposit that I can make into a Give for Good account?
You can make one-time and/or recurring monthly deposits to your accounts. There are no minimum requirements for either.
What is the minimum donation I can make to a charity?
The minimum donation amount is $10.
Are donations made through a Give for Good Account tax deductible?
Yes! You’ll receive your tax receipts instantly within after depositing funds onto your Give for Good balance. There is a special ‘Tax Documents’ link on the navigation menu where you can access them all.
If you’ve enrolled / created an account, congratulations! You’ll be able to access a more complete suite of FAQ’s within the Give for Good tool itself.
If you have other unanswered questions or would like to have access to the platform and don’t, you can contact our customer service team by phone or by email:
Call us
1-800-EASTERN (327-8376)
Monday - Friday: 7:00AM-8:00PM
Saturday: 9:00 AM-3:00 PM
Email Us*
info@easternbank.com
*When communicating with us via e-mail, please do not send any information that is considered confidential or sensitive in nature. For example, social security number or account number. Please feel free to contact us by phone.
FAQs - Early Access Users
What is a pilot program?
Think of it as a small scale, short term experiment. We’re looking to gather your feedback about the Give for Good product – what you like, what you don’t. Based on what we hear from you, we will make adjustments and decide if we want to roll this out to all of our customers.
What are the fees for using a Give for Good account?
Zero! It's free! And your chosen charities also receive 100% of your donation.
How do I contribute funds to my Give for Good Account?1
You can move money directly from your Eastern Bank account online or in-app. Move electronically using your Eastern bank debit card, or a non-Eastern credit / debit card or bank account.
Who are Pinkaloo and America’s Charities?
Pinkaloo is a company that enables charitable accounts for financial institutions (like Eastern). America’s Charities is a registered 501(c)3 foundation. They work with Pinkaloo to help administer your Give for Good account. For example, they issue your tax receipt and send your donated funds to the charity(s) of your choice.
What is the minimum deposit to open an account?
There isn’t one (compared to traditional Donor Advised Funds where the minimum could be as high as $25,000, this is an amazing and accessible opportunity for managing your giving).
What is the minimum deposit that I can make into my account?
There isn’t one.
What is the minimum donation I can make to a charity?
$10.
Is there a minimum amount that I need to donate each year?
No, it’s totally up to you.
Can I withdraw funds from my Give for Good account?
No. Once you move funds into your Give for Good account, the funds automatically become a tax-deductible transaction and you will receive a tax receipt immediately after funding your account. If you have a problem though, please contact us.
How does a Give for Good account differ from a Donor Advised Fund?
Most DAFs have a significant minimum amount required to open (sometimes as high as $25,000) and charge balance-based fees. Give for Good has no minimum and is free to you as an Eastern Bank customer – there are no fees and the charity gets 100% of your contribution. Give for Good is also designed with donors in mind, making it easy to find and discover great organizations and providing fun, social capabilities built into the experience.
1. If for any reason an initial transfer is rejected, we will try to execute this transaction for you three times. You may be assessed fees by your financial institution if there are insufficient funds in your account.
How do I add funds to my Give for Good account?
Funding your Give for Good account is simple! Simply log in to your Give for Good account and click on the plus (+) sign. You will then decide if you want to make a one-time or recurring contribution and click ‘manage’ to add your preferred cards and external bank accounts. If you chose to sync your debit card upon enrolling, you’ll find it already listed under your payment methods.
When will I receive my tax receipt?
After adding funds to the account, you’ll immediately receive your tax receipt from America’s Charities. It will appear in your payment history as a transaction to “Charities Org”. America’s Charities will send the funds to your charity of choice only after you donate to your selected charity.
How do I search for a charity or nonprofit?
Give for Good is designed to help you easily find your preferred charities or discover new ones. Once in your account click the ‘discover’ link on the main menu. Search by name, EIN # or filter by keyword, category or even location to find national or local nonprofits you’re passionate about. You can browse the results and click into any charity to find more information and links to their social media pages. Search and discover your favorites.
How do I make a donation?
After you find a nonprofit you want to support, click ‘donate now’ and specify how often and how much you want to donate. Choose whether you want your donation included on the Community Giving Feed, and if you want to share your name and email address with the charity. Confirm your details and once you’re ready, click ‘make a donation.’ Just like that your donation is on the way! (Feel free to share your donation with friends and family on social media or through email to spread the word.)
How do I donate to a specific project, a friend’s campaign (like a charity walk), or make my donation in honor of somebody?
We see so many people using Give for Good this way! Follow the steps above to make a donation, and after you decide how much you want to donate, click the ‘write a purpose’ link and enter the appropriate details about the project, your friend’s campaign or the person you’re honoring. After that, just confirm your details and when ready, click ‘make a donation.’ The charity will direct your funds as specified - they are required by law to do so.
(Note - If you’re contributing to a friend’s campaign, let them know. Most crowdfunding sites allow the administrator to add ‘offline donations,’ so just let he /she know that you donated, and they can add it to their campaign.)
What is the difference between a deposit and a donation?
A deposit is an amount that you put into your Give for Good account electronically, using a credit card, debit card, or a non-Eastern bank account. Once you make a distribution from your account to a charity of your choice, this amount becomes a donation!
How can I access my giving history?
Give for Good remembers your giving history for you. To access it, go to the main menu and click ‘giving feed.’ Once you’re there click on ‘my activity.’ You’ll have a view into your historical deposit information, as well as the total number of donations, dollars donated, and number of charities you’ve supported by date.
What information is shared with the charity about me?
You can decide whether your donation is anonymous or if you’d like for the charity to receive your name and email address. When donating to a specific charity, you will have the option to check off the box next to “Share name and email with charity”.
How long will it take for the charity to receive their donation?
Donations are processed monthly. The amount of time that it takes for the charity to receive and process the donation can vary depending on their processes. Sometimes it is as quick as a few days, other times, it can take a few weeks.
What if I donate outside of my Give for Good account?
Give for Good can still help you track your donations. Just upload your tax receipt to your ‘Tax Documents’ page by clicking the ‘Upload Tax Receipt’ button.
If my company makes matching contributions, how would it make a contribution to a charity I support through Give for Good?
There are two ways. The first is to take a screenshot of your donation history, showing your contribution to a specific charity and submitting that as a receipt through your company’s matching process. An alternative is to have your company work directly with Pinkaloo on workplace giving solutions that automatically send matching gifts to charity.
What information does the Give for Good charity database provide?
For larger organizations, you will find overviews of charity missions, location, official registration details (EIN), financial standing (assets, income and revenue) and links to any available websites and social accounts. Our real-time giving feed is also a good resource for you to see how many people have donated to a specific charity.
Can I donate to any charity that I want?
Your Give for Good account allows you to support over a million charities in the U.S. Some small churches, schools, and hospitals may not be available in the database. Donating directly to them and uploading the receipt is the best approach. If you can’t find a charity that you are searching for, please contact us.
What is special about the six highlighted charities under Give for Good’s ‘Discover’ section?
These are impactful organizations that provide services to the communities we serve. Eastern Bank and the Eastern Bank Charitable Foundation support over 1,600 organizations each year, and we worked hard to ensure a meaningful selection across our geographic footprint.
Some non-profit customers may wonder why they are not being featured. It’s worth remembering that this is a pilot program, and our Featured Non-Profits will be rotated monthly. We fully expect to be able to include more non-profits going forward. We encourage you to check out the ‘Discover’ section of the platform, where you can filter, find and discover charities you’re passionate about from a database of thousands or organizations.
What does it mean for a donation to be tax-deductible?
A donation is tax-deductible if the dollar value of the donation amount can be subtracted from your taxable income. Please consult your tax advisor for specific tax advice.
Are donations made through my Give for Good Account tax deductible?
Yes! In fact, you receive your tax receipt instantly within the account after you deposit money into your account. Please consult your tax advisor for specific tax advice.
Where do I find my tax information?
To get your tax documents, select the “Tax Documents” tab. Find the report that you would like to view and open it by pressing the download arrow. Please consult your tax advisor for specific tax advice.
What is the purpose of tax receipts, and how can I use them when I do my taxes?
The tax receipts that are generated by America’s Charities can be kept for your records. If you use tax software, such as TurboTax, use the information in your tax receipt when you get to the 'Charitable Giving' section. If you use an accountant, you can download your receipts and year-end summary and provide them to your accountant with all your other documents.
What if I make a separate gift, not using the Give for Good account, but want all my tracking and receipts to be consolidated on the Give for Good account?
You can upload the tax receipt that you received from the charity to your “Tax Documents” section within your account by clicking the orange Upload Tax Receipt button at the top righthand corner of that section. This will enable you to keep track of all your giving and tax receipts in one place, making it very easy to track and retain your charitable history.
Call us
1-800-EASTERN (327-8376)
Monday - Friday: 7:00AM - 8:00PM
Saturday: 9:00 AM - 3:00 PM
Email us*
info@easternbank.com
*When communicating with us via e-mail, please do not send any information that is considered confidential or sensitive in nature. For example, social security number or account number. Please feel free to contact us by phone.