BofA goes live with clearXchange network

Early Warning last week announced that Bank of America is live and actively processing real-time person-to-person transactions through the Early Warning clearXchange network. Bank of America is one of the first banks to go live — along with U.S. Bank.

Customers at both banks are now able to send eligible real-time P2P payments to customers at either bank, with funds made available for immediate use. The solution is unique in its ability to provide consumers with immediate access to funds, directly in their bank account. Bank of America and U.S. Bank have a combined reach of nearly 22 million mobile banking customers in the U.S.

“Bank of America is committed to being a leader in payments and making it easier than ever for our clients to manage their finances,” said Thong Nguyen, president of retail banking at Bank of America. “We’re focused on creating a simple, straightforward person-to-person payments experience that lets our customers pay anyone with a couple of easy, intuitive steps.”

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