If you're one of the thousands of nonprofits that already have a Chariot Account, this article is for you! We've got an exciting new product announcement that's going to change the way money moves to nonprofits. Follow the steps below to start using the new version of the Chariot dashboard, which includes DAFpay and payments from DAFs using Chariot Disbursements*.
Step 1: Set up Two-Factor Authentication (TFA)
For an added layer of security, Chariot now requires that all nonprofit account users enable TFA. This helps ensure that only authorized members of your organization can log in and access your account details. There will be two options for enabling TFA:
Option 1 (via Authenticator App, Recommended): Once you select "Authenticator App" as your TFA method, you'll immediately be prompted to scan a QR code and set up TFA using the app of your choice. There are several of these apps - e.g., Google Authenticator, Apple Passwords, 1Password, Authy - and you may already have one downloaded on your phone.
Option 2 (via Text Message): You can also opt to enable TFA via text message, in which case, you can enter your mobile phone number and then enter the verification code you received via text.
Step 2: Claim your Chariot Deposit Account*
Once in your dashboard, you will see an "additional verification required" banner, which will allow you to complete the verification steps needed to claim your Chariot Deposit Account. A Chariot Deposit Account is a Demand Deposit Account (DDA), or bank account, that is legally owned by your organization. See here for a quick guide on how to claim your Chariot Deposit Account.
Why should I claim my organization's Chariot Deposit Account?
Claiming your Chariot Deposit Account will allow you to not only view and track your DAFpay gifts, but to automatically start receiving electronic payments from our Chariot Disbursement Partners. Once approved, payments from Disbursement Partners will settle instantly into your Deposit Account - which means no more physical checks, and no more manual data entry. And these payments into your Chariot Deposit Account will include all of Disbursement Partners' DAF gifts, not just what is initiated through DAFpay. They'll be rapid, secure payments with gift details in a centralized dashboard.
Step 3: Add an External Financial Account
You will periodically want to transfer funds from your Chariot Deposit Account into an External Financial Account (EFA). You can add an EFA within your Chariot dashboard in just a few simple clicks.