Businesses can confidently conduct global commerce with the support of Bank of America Merrill Lynch. With our integrated channel offering, you can shift from an operational focus on payments processing to the strategic management of your payables. Enjoy simple global payments delivery to over 200 countries and territories and in 140 currencies. Globally consistent and locally relevant solutions enabling greater efficiency and end to end visibility.
SECOND PAYMENT SERVICES DIRECTIVE (PSD2) for the EEA
PSD2 is a significant piece of payments-related legislation in the European Economic Area (EEA) which becomes effective from January 13, 2018. PSD2 is a significant evolution of existing regulation for the payments market. It aims to increase competition in the payments market, bring into scope new types of payment services, and enhance client protection and security and to extend the scope of the previous Payment Services Directive.
Read the Summary of PSD2 Enhancements for additional information.
LOW VALUE PAYMENTS
- Deliver payments for a variety of payment needs with local ACH capabilities1
- Initiate cross-border low-value payments to more than 70+ countries through a single BofAML relationship.
HIGH VALUE PAYMENTS
- Technology that is highly automated to reduce the risk of errors
- Service that is delivered locally and globally to address needs quickly
- A compliance focus that always at the forefront with procedures that maximize compliance with the law, but minimize impact to our clients
Upgrade your consumer payments by using an email address or mobile phone number instead of checks. Fast electronic payments that make your customers happy and save you money – Bank of America Merrill Lynch Digital Disbursements
FOREIGN EXCHANGE PAYMENTS
Simplify your foreign currency exchange with integrated cross currency trading and payments available through CashPro® Foreign Exchange Services
Accounts Payable Solutions
Streamline your supplier payment processing while supporting your core accounts payables functions with a suite of electronic and card-based solutions.
Comprehensive Payables, which includes Virtual Payables and Paymode-X® Connect, can significantly reduce your check volume while increasing your accounts payable efficiency and driving working capital optimization
Streamline your processes for high- and low-value, multibank, payroll and tax payments, along with internal book transfers, bank drafts and foreign currency transactions through our award-winning cash management portal.
Connect through your choice of channels, including host-to-host, web and mobile
 Available where BofAML has country presence.
All services may not be available in all jurisdictions and are subject to change without notice.