Beginning today, U.S. Bank customers can send funds instantly to
anyone with no fee
MINNEAPOLIS--(BUSINESS WIRE)--Jul. 6, 2016--
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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160706005210/en/
Source: U.S. Bank
U.S. Bank
Teri Charest, 612-303-3072
teri.charest@usbank.com
@usbank_news