U.S. Bank Leads the Way in the Evolution of Real-Time, Person-to-Person Payments
July 06 2016 - 10:00AM
Business Wire
Beginning today, U.S. Bank customers can send funds instantly to
anyone with no fee
In early 2016, U.S. Bank became the first bank to offer
real-time, person-to-person payments through the security of the
clearXchange network, the largest bank-offered digital payments
network in the United States.
Since U.S. Bank introduced this service to its customers,
several other financial institutions have been added to the
clearXchange platform, making real-time payments more broadly
available. Because of the expansion of the platform, U.S. Bank is
making the service available to customers with no fee, effective
July 6.
“Customers’ demand for real-time, person-to-person payments is
growing and the network is expanding – it’s a perfect demonstration
of how the banking industry is working together to deliver safe and
easy solutions for customers’ evolving financial preferences,” said
Gareth Gaston, executive vice president, Omnichannel Banking, U.S.
Bank. “U.S. Bank has long been a pioneer in innovative payment
solutions and we remain focused on providing an exceptional
customer experience wherever and however they want to send money
securely to their family or friends.”
U.S. Bank’s real-time, person-to-person service requires only an
email address or mobile phone number to start, and once set up,
money can be sent easily and safely online or through a mobile
device. The real-time feature is available through U.S. Bank Send
Money for any customer who is enrolled in U.S. Bank Online Banking.
U.S. Bank Send Money utilizes U.S. Bank’s strong authentication
steps to ensure secure transactions.
The U.S. Bank Send Money service is powered by Early Warning’s
clearXchange network. U.S. Bank became a member and co-owner of
Early Warning in 2016, and began using the clearXchange network on
February 21, 2016.
About U.S. Bank
U.S. Bancorp (NYSE: USB), with $429 billion in assets as of
March 31, 2016, is the parent company of U.S. Bank National
Association, the fifth largest commercial bank in the United
States. The Company operates 3,129 banking offices in 25 states and
4,954 ATMs and provides a comprehensive line of banking,
investment, mortgage, trust and payment services products to
consumers, businesses and institutions. Visit U.S. Bancorp on the
web at www.usbank.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20160706005210/en/
U.S. BankTeri Charest,
612-303-3072teri.charest@usbank.com@usbank_news
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