I love getting weekly phone calls from my grandchildren, especially before Shabbat. My wife, Barbara, and I enjoy a regular schedule for these calls and genuinely look forward to receiving them. Remember that the bond between grandparents and grandchildren is more special than that between parents and their children. There is a lot we have in common. Our mutual enemy is their parents. (Hey, it’s just a joke. Insert laugh here).
Our grandson, Eli, called my wife one Friday afternoon and had a delightful conversation with her. Toward the end of the tête-à-tête, he said, “By the way, Bobbie (grandmother), I will call you again tomorrow night.” My wife replied, “Oh, so you’re raising funds for your yeshiva.” My grandson astutely declared, “That’s right.”
Like clockwork, Eli called right after Shabbos, true to his word. He made no formal pitch. It was just down to brass tacks for him. Specifically, he was calling on behalf of the institution he attended in Monsey, NY, to raise money for it. The administration recruited the boys to make fundraising calls as soon as Shabbat ended. I wouldn’t go quietly, however. After all, I was a professional fundraiser for 45 years, raising upwards of $100 million.
I asked him, “Do we get raffle tickets for donating?” Eli replied, “No, you don’t. You just get the satisfaction of donating.” I pressed on, “How about an auction prize? Surely, this fundraiser must have a connection to an auction? “No Saba (grandfather),” he laughed. “Just a contribution.” As I wanted him to earn his keep, I facetiously queried, “This is a scam, right?” He guffawed and simply said, “No scam.”
My grandson had been pestered enough, so I pulled out my credit card and told him how much we were contributing. I was reading the numbers on the card when Eli interrupted me. “Oh no, Saba. Can you Zelle the money to the school?” I said, “Wait, what?” He said, “Yes, can you Zelle us the money?”
Flashes of the movie “Jerry Maguire” suddenly appeared in front of me. Perhaps one of the most famous movie lines in history, known to many audiences who may have never even heard of Jerry Maguire, came to mind. In the film, Jerry’s client Rod Tidwell, a wild football player, makes it clear what Jerry must do if he is to remain his client and sign him to a massive contract deal. He makes Jerry, his sports agent, yell at the top of his lungs, “Show Me the Money!” Now, my grandson just changed the slogan to “Zelle Me the Money!”
Afterward, I asked Eli who thought of that idea. “The principal’s wife,” he said. She knew Zelle’s money was an immediate, irrevocable transaction. Your bank account or credit union effectively transfers the funds to the recipient. There are no delays, no credit card fees, and, mostly, no fees at all. Presto. Instant money. It’s that simple.
A few days later, my daughter-in-law Shirley, Eli’s mother, sent me an ad blank for my granddaughter Malky’s yearbook. The cycle never ends, does it? She was getting ready to graduate from high school. At the bottom of the form, the seminary asked that payment be Zelled to the school. Zelle’s magic spreads fast, doesn’t it? Many parents have likely experienced Zelle by now since there are many other applications available.
A short time ago, I also received an invitation by postal mail. Yes, these still come in droves. A wonderful charity was hosting a BBQ for its constituents to raise money for a worthy cause. There was an RSVP envelope included for those willing to send back their reservations with a tax-deductible check. In addition, there was a QR code taking you to their website where a multiplicity of giving options was available. But the invite prominently stated that you can make contributions via Zelle. All the information necessary was there.
Fundraisers who have not been regularly using this method to secure contributions should consider it an important add-on to their arsenal of giving and receiving tools. Zelle has several advantages. As reported by “Forbes Advisor” in an article on October 11, 2022, there are the following benefits:
No fees.
Availability to customers of nearly 10,000 banks and credit unions in the US.
Quick transfers of money; typically, money sent through Zelle is available to the recipient in a matter of minutes.
Ability to earn interest on money held in checking or savings accounts tied to Zelle.
But, be careful, the story also denotes the following shortcomings for donors:
Inability to cancel a payment after it’s been sent if the recipient is enrolled in Zelle.
No availability of a Zelle-branded debit or credit card.
Zelle accounts can’t be linked to a credit card.
No ability to maintain a cash balance with Zelle.
In the meantime, be aware that a few customers have complained about the seemingly innocuous Zelle option. Some users have criticized Zelle for rampant fraud and scams that can leave bank customers liable. As the maxim goes: “Caveat emptor—Let the buyer beware!”
This essay does not cover Venmo, a similar financial transaction vehicle to Zelle. Let’s leave it for another day. I need another grandchild to call me.
Norman B. Gildin is the author of the popular book on nonprofit fundraising “Learn From My Experiences.” He is the president of Strategic Fundraising Group, whose singular mission is to assist nonprofits to raise critical funds for their organization. His website is www.normangildin.com.
