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Zelle launches innovation agenda to work with financial institutions to expand the way the popular person-to-person payment tool can be used
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.
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.
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.
While the initial proof of concept is with Bank of America's Charitable Gift Fund, the goal is to support broader use by financial institutions that offer Zelle and have donor advised fund programs.
"Zelle is a staple of the American economy and Americans are ready for it to do more," said Denise Leonhard, general manager of Zelle. "Through Zelle® Forward, we are advancing practical new applications of the Zelle network, and this charitable grant delivery capability represents the first of many ways Zelle will continue to innovate and grow. By bringing the speed and reliability of Zelle to charitable grant delivery, we are helping funds reach nonprofits faster so organizations can stay focused on their missions."
Bank of America's Charitable Gift Fund provides clients with an organized, flexible, and tax-efficient way to support the causes they care about. Donors can contribute a variety of assets, invest for potential long-term impact, and involve family members. In 2025 alone, the Charitable Gift Fund distributed more than 100,000 grants, totaling over $1.3 billion to nonprofits.
"For nonprofits, deploying their resources quickly and effectively matters – whether responding to community needs or scaling vital services," said Donald Greene, Donor-advised Fund Executive, Bank of America Private Bank. "By partnering with Zelle to develop this innovation, we're giving both donors and nonprofits a more modern and responsive way to take in and make use of charitable contributions. This advancement strengthens our clients' ability to support the causes they care about and accelerates the impact of nonprofits."
Throughout 2026, Zelle will continue to explore additional innovations to help bring new capabilities to Zelle and deliver additional value across the American economy. Each program considers the evolving roadmap of the Zelle platform — ensuring innovation remains continuous, responsible, and aligned with real-world consumer needs.
Zelle®
Zelle® powers fast, reliable person-to-person digital payments, moving more than $1 trillion between millions of consumer and small business accounts at United States banks and credit unions. Available through a network of more than 2,300 financial institutions, Zelle® enables people to send and receive money directly – without cash, checks or third-party apps. Zelle® is owned and operated by Early Warning Services, LLC, which works with America's banks, credit unions and government agencies to drive prosperity, deliver bold innovation and improve how payments are made. Learn more at www.zelle.com.
Bank of America is one of the world's leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving nearly 70 million consumer and small business clients with approximately 3,600 retail financial centers, approximately 15,000 ATMs (automated teller machines) and award-winning digital banking with approximately 59 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and more than 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.
For more Bank of America news, including dividend announcements and other important information, visit the Bank of America newsroom and register for news email alerts.
Reporters may contact
Eric Blankenbaker, Zelle
Phone: 929.745.0923
Eric.Blankenbaker@earlywarning.com
Julia Ehrenfeld, Bank of America
Phone: 646.855.3267
Julia.Ehrenfeld@bofa.com
Footnotes
1 This is a limited pilot offered with participating institutions and is not currently available across the Zelle Network. Any future expansion would be informed by insights from this initial phase and is subject to platform readiness and network requirements.
Important Disclosures
Donor-advised fund management is provided by Bank of America Private Bank, a division of Bank of America, N.A., Member FDIC and a wholly owned subsidiary of Bank of America Corporation ("BofA Corp."). Trust, fiduciary, and investment management services are provided by wholly owned banking affiliates of BofA Corp., including Bank of America, N.A. and its agents. Brokerage services may be performed by wholly owned brokerage affiliates of BofA Corp., including Merrill Lynch, Pierce, Fenner & Smith Incorporated (also referred to as "MLPF&S" or "Merrill"). Merrill is a registered broker-dealer, a registered investment adviser and Member SIPC.
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SOURCE Bank of America Corporation
