BoA, Chase and Wells Fargo Moves Money Via Email & Mobile with clearXchange

clearXchange.JPGBank of America, JPMorgan Chase and Wells Fargo have formed a partnership that enables their customers to move money using a mobile number or email address called clearXchange.

Customers of the three banks
will be able to move funds directly from their existing checking
accounts using an email address or mobile number, instead of providing
checking account and routing numbers.

The clearXchange service will
roll out nationally and there are plans over time to expand it to
include other financial institutions and endpoints to create a money
movement capability across the industry.

The three banks will own and run clearXchange, with Bank of America’s
John Feldman serving as General Manager. Financial terms were not

clearXchange is headquartered in Charlotte, North Carolina.