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What it does: The first bank-owned electronic person-to-person payments network; Send money to an email address or mobile phone number; Joint venture between JPMorgan Chase Bank, Wells Fargo and Bank of America.
Pros: Payments derived from a personal checking account can go to customers of any of the three partner banks; Eliminates need for checks or routing numbers.
Cons: Currently limited to customers of Chase, BofA and Wells Fargo.
Availability: TBD
More info: BofA, Chase and Wells Fargo Unveil New P2P Payments Network
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clearXchange - The Social Payment
The Social Payment
clearXchange
What it does: The first bank-owned electronic person-to-person payments network; Send money to an email address or mobile phone number; Joint venture between JPMorgan Chase Bank, Wells Fargo and Bank of America.
Pros: Payments derived from a personal checking account can go to customers of any of the three partner banks; Eliminates need for checks or routing numbers.
Cons: Currently limited to customers of Chase, BofA and Wells Fargo.
Availability: TBD
More info: BofA, Chase and Wells Fargo Unveil New P2P Payments Network
gallery index
