Business
Zelle® and Bank of America Partner to Accelerate Delivery of Charitable Donations to Nonprofits
Today, Zelle® and Bank of America announce a first-of-its-kind application of Zelle to enable charitable disbursements from Donor Advised Funds (DAFs). The new capability allows nonprofits to receive charitable grant funding in near real time, replacing the traditional multi-week, paper-based process with fast and reliable digital payments using the Zelle network.
About this update from Bank Of America Corporation
[{"type":"text","content":"Zelle launches innovation agenda to work with financial institutions to expand the way the popular person-to-person payment tool can be used","length":140,"tagName":"p","attribs":{}},{"type":"text","content":"NEW YORK and CHARLOTTE, N.C., March 12, 2026 /PRNewswire/ -- Today, Zelle® and Bank of America announce a first-of-its-kind application of Zelle to enable charitable disbursements from Donor Advised Funds (DAFs). The new capability allows nonprofits to receive charitable grant funding in near real time, replacing the traditional multi-week, paper-based process with fast and reliable digital payments using the Zelle network.","length":432,"tagName":"p"},{"type":"image","alt":"(PRNewsfoto/Bank of America Corporation)","displaySize":"","headline":null,"caption":"(PRNewsfoto/Bank of America Corporation)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":218,"url":"https://media.zenfs.com/en/prnewswire.com/4d6fb45aaf101b6a5768c6209ac29c98"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/vBL7vueTUitsFOJUBxvDrQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTM4NDtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/4d6fb45aaf101b6a5768c6209ac29c98","width":400,"height":218}},"href":"https://mma.prnewswire.com/media/1612970/Bank_of_America_Corporation_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"This new capability is part of Zelle® Forward, the network's innovation agenda. Zelle is working with financial institutions to explore ways to expand into new, practical use cases. Americans now send more than $1.2 trillion annually using Zelle and increasingly rely on it for everyday needs like rent and childcare.","length":321,"tagName":"p"},{"type":"text","content":"The new DAF proof of concept is being introduced through Bank of America's Charitable Gift Fund, the bank's donor advised fund, allowing donors to send charitable grants to a select group of nonprofit organizations via Zelle.1 The speed and security of this delivery could help transform how charitable dollars flow from routine, planned donations to urgent situations like natural disasters and community‑level crises, helping nonprofits access resources more quickly when they are needed most.","length":508,"tagName":"p"},{"type":"text","content":"While the initial proof of concept is with Bank of Ame...