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U.S. Bank Customers among the First to Enjoy Faster Person-to-Person Payments

U.S. Bank among first to go live on clearXchange with real-time payments

MINNEAPOLIS--(BUSINESS WIRE)--Mar. 3, 2016-- U.S. Bank customers can now send money to and request payment from anyone across the country with an option for those funds to be available in real time as U.S. Bank goes live on the clearXchange network. The new service requires only an email address or mobile phone number and can be done easily online or on a mobile device.

“U.S. Bank is a pioneer in its mission to provide customers a safe and easy way to send money to another person anywhere in the country,” said Gareth Gaston, executive vice president of omnichannel banking at U.S. Bank. “U.S. Bank has invested heavily in clearXchange and parent company, Early Warning, because we believe person-to-person payments in real-time is the future of fast, secure payments. The service saves customers time when paying another person, and has the security of online or mobile banking. With the click of a mouse or the tap of a screen, U.S. Bank customers can quickly split a dinner tab with friends, or send cash as a birthday gift to their kids in another city.”

The real-time feature is available through U.S. Bank Send Money. Any customer who is enrolled in U.S. Bank Online Banking is eligible to use Send Money and can start taking advantage of several enhanced features:

  • FREE standard delivery;
  • FREE email option to request money;
  • Simplified flat pricing for next day ($2.95) and instant/real-time ($6.95) payments;
  • Easy navigation within online or mobile banking and
  • Ability to make Send Money payments from savings, checking or Money Market accounts.

U.S. Bank has long been at the forefront of bringing customers more convenience through innovation in mobile and online technology. It was among the first to allow customers to deposit checks by through mobile devices, and was also one of the first banks to launch Apple Pay, Samsung Pay and Android pay for the benefit of its customers. Now U.S. Bank is one of the first banks within the clearXchange network to offer real-time capability to its customers.

The new U.S. Bank Send Money service is powered by Early Warning’s clearXchange network. U.S. Bank became a member and co-owner of Early Warning in 2016, and began using the clearXchange network on February 21, 2016.

U.S. Bancorp (NYSE: USB), with $422 billion in assets as of December 31, 2015, is the parent company of U.S. Bank National Association, the fifth largest commercial bank in the United States. The company operates 3,133 banking offices in 25 states and 4,936 ATMs and provides a comprehensive line of banking, investment, mortgage, trust and payment services products to consumers, businesses and institutions. Visit U.S. Bancorp on the web at www.usbank.com.

Source: U.S. Bank

U.S. Bank Corporate Communications
Teri Charest, 612-303-0732
teri.charest@usbank.com, @usbank_news

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding U.S. Bancorp's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.

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