September 25, 2009
Fifth Third Bank partners CashEdge for online funds transfer service
US financial services provider Fifth Third Bank has made an online funds transfer service available to its customers.
Dubbed TransferNow Me-to-Me Transfers, the service was developed by US money movement services company CashEdge and allows consumers to transfer funds between accounts they own and which are held at 23,000 banks, credit unions and brokerages via the ACH network. Me-to-Me Transfers leverages CashEdge's proprietary automated identity authentication and funding account verification processes.
As a result of integrating TransferNow Me-to-Me Transfers, the bank`s customers can now transfer funds between their accounts using Fifth Third Bank online banking.
The USD 116 billion-asset Fifth Third Bancorp engages in five main lending and banking practices, including branch banking, consumer lending, commercial banking, investment advisors and Fifth Third processing solutions. Throughout 2008, CashEdge customers transferred almost USD 50 billion on the internet via the company's money movement services.