Bank of the West, a US-based retail subsidiary
of BNP Paribas, has launched the first payments service allowing
bank customers to send money from their bank account, using a
recipient’s email address, mobile phone number or bank account
information.
‘Popmoney’, a person-to-person payments
service provided by CashEdge, offers an alternative to cash and
cheques and builds on the Third Party Transfer the bank launched in
2009.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Customers sending money notify a recipient via
e-mail or text message before sending the money straight to the
person’s bank account.
The service will be free until 30 June, when a
$3.00 charge will apply for each standard delivery transaction, and
$10.00 for a next day transaction.
The bank recently topped a JD Power survey for
customer satisfaction in California, with a score of 782 (out of
1,000) compared to Union Bank of California’s 771 and Wells Fargo’s
761 (see RBI 632-633).
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
