Top Banks in America

Today, Bank of America announced it will accept donations to support the American Red Cross Japan Earthquake and Tsunami Relief Fund at its more than 5,800 banking centers across the United States. In addition, Bank of America announced it will, at a customer’s request, waive associated foreign transaction fees for customers making a donation with a Bank of America credit card to charitable organizations supporting relief efforts.

“Many members of our own Bank of America team live and work in Japan, and we are united behind them to do what we can to help during this difficult time,” said Brian T. Moynihan, chief executive officer of Bank of America. “One way we can do that is to make it simple, safe, and convenient for our customers to provide financial support to those in need.”

This past weekend, the Bank of America Charitable Foundation announced a 100 million yen ($1.22 million) commitment to aid survivors of the earthquake and tsunami. This includes a 50 million yen grant to American Red Cross, which is working with the Japanese Red Cross Society to help meet the immediate needs of individuals and families.

As relief efforts evolve in the coming weeks, the remaining 50 million yen contribution will be directed towards the long-term recovery efforts to restore basic medical services and fund the rebuilding of homes, schools and other structures critical to the affected communities.

In addition, the Bank of America Charitable Foundation will match employee pledges through the bank’s Matching Gifts program and will not limit its overall relief donation.