Bank Of America Increases Its ACH Payment Service Via CashPro

By  |  February 3, 2017
 | 

Bank of America Merrill Lynch announced Thursday (Feb. 2) that it has substantially increased its international payments capabilities via the bank’s online and file-based banking portal CashPro.

In a press release, Bank of America said tens of thousands of CashPro users can now make cross-currency ACH payments in 60 countries and in 22 currencies. Bank of America said it has created an easier and more cost-effective way for companies to pay vendors, contractors and customers. The bank noted that ACH payments are ideal for low-value and/or recurring payments. While the capabilities were offered in the past, Bank of America said it was only available to a small number of clients.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    Subscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    “Our enhancement of CashPro with the ACH payments capability is perfectly timed given the exponential growth of global payments around the world. Clients can now process their cross-border payments in a convenient and economical way,” said Ather Williams, head of Global Transaction Services, in the press release. “Through this and other innovations, we strive to maintain our position as the provider of choice for companies with increasingly complex cash management needs.”

    Bank of America Merrill Lynch clients can access the new payments capability through CashPro Payments or CashPro Connect. The payments can be made to either individuals or businesses.

    “We are pleased to add this expanded cross-currency payment method to CashPro,” said Hilani Kerr, head of Global Cross-Currency Product, in the same press release. “These critical enhancements were made in direct response to client demand and represent another important step in our mission to help break down the barriers for companies to make low-value payments around the world.”

    In addition to cross-currency ACH, customers of CashPro can access a suite of payment solutions, such as wire transfers for urgent, high-value payments and high-volume payments, among other things.

    Recommended

    Adobe building

    Adobe Opens Photoshop and Premiere to Third-Party AI Agents

    Brazil, regulations, banking

    Brazilian Regulators Hope to Shed Light on Shadow Banks

    Congress-Capitol-Hill

    Lame Duck Congress Faces Deadline on Cybersecurity and AI Safety Bills

    HSBC

    HSBC Turns to Stripe for Small Business Tap-to-Pay Offering

    See More In: , , , ,