When will the service be available?

The commercial launch date has not been announced yet, but it is expected to be initially available to corporate clients.

How is this service different from traditional transfers?

It enables real-time fund transfers instead of waiting for business days as with traditional transfers.

It is Bank of America's digital banking platform for corporate clients to manage cash and payments.

Bank of America Launches Cross-Border Real-Time Payments

Bank of America (BAC) announced the launch of a new service allowing clients to send and receive funds instantly across borders using the Swift network or its CashPro platform.

June 5, 2026

2 min read

Source: Electronic Payments

Bank of America (BAC) has announced the launch of a new cross-border real-time payments service, enabling clients to send and receive funds instantly via Swift or the bank's CashPro platform.

The Service

The new service allows instant fund transfers between accounts in different countries, eliminating the need for multi-day waiting periods. Clients can use either the global Swift network or Bank of America's digital CashPro platform.

Pricing and Availability

Pricing details and the commercial launch date have not yet been disclosed. The service is expected to be initially available to corporate clients.

Competition

This service enters a competitive landscape that includes solutions like Ripple, Visa Direct, and Mastercard Send, as well as offerings from other major banks. Bank of America's advantage lies in its extensive client base and global reach.

Potential Impact on the Company

The service could strengthen Bank of America's position in digital payments, attract new corporate clients, and increase revenue from transfer fees. It also reflects the bank's commitment to innovation in financial services.

Frequently Asked Questions

It is a new service that allows clients to send and receive funds instantly across borders using Swift or the CashPro platform.

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This article was rewritten in Wrqti's editorial style based on information from the original source above. Content is informational only — not investment advice.