Immediately send and receive payments using the first new clearing system in the U.S. in more than 40 years. Real-Time Payments can help transform how you transact, making business easier with anytime availability, sender and receiver notifications and enhanced messaging.1
HOW IT WORKS
- Funds are transferred within 15 seconds
- Payments are final
- Flexible messaging, using ISO 20022
- Faster, easier receivables reconciliation
- 24/7/365 availability
WAYS TO USE
- Immediate supplier payments
- Emergency disbursements
- Payroll for hourly employees
- Customer billing and dispute resolution
- Many other uses
Learn more about benefits, use cases and how to start using Real-Time Payments.
To learn more about Real-Time Payments, speak to your BofAML representative.
1Services will be rolled out gradually through 2019 and 2020. Please contact your BofAML representative for details.