Nocember 24, 2008
CashEdge Signs Major US Banks to its Third Party Transfer Service
Financial service provider CashEdge signs two US banks to its Consumer Third Party Transfers module, a newly-launched online money transfer service which allows financial institutions to provide their customers with funds transfers directly from their online banking accounts. The Third Party Transfers service allows for the funds to be transferred from the sender's account directly into the recipient's account within a network of over 23,000 banks, credit unions and brokerages available via the ACH network.
The two financial institutions which signed up to CashEdge's Third Party Transfers module - whose names have not yet been disclosed but which have been identified as "two of the top ten banks in the U.S" - are to implement the new online transfer service a bid to enhance their online offerings and boost the company's transaction-based revenues.