The interesting part to me is that he was not asked to “accept” the transfer in the email. Chase QuickPay will still send an email to the recipient if they belong with a clearXchange network bank.īut, not long after, Jesse received a second email that alerted him of the money transfer. That was unexpected because I anticipated the two banks to realize that the money transfer was being made through clearXchange, so he shouldn’t have been asked to sign up for QuickPay. Immediately after that, Jesse got a email from Chase to accept the money by signing up for Chase QuickPay.
#CHASE QUICKPAY SET UP ANDROID#
Chase QuickPay can be accessed by visiting Chase's website or by using Chase's mobile banking apps on iOS and Android devices. Then I entered the amount that I wanted to send, and off it went. I logged into my Chase online banking account as I normally would and I just added Jesse, a Bank of America checking customer, as a new Chase QuickPay recipient with just his email address. The fastest payment ever, from Chase to Bank of America Since I am a Chase customer, I thought I’d give the clearXchange network a try by sending a couple bucks to a Bank of America customer (it should work the same way if money was being sent from Bank of America to Chase). The new Chase QuickPay functionality with clearXchange could eliminate this issue. But, this rule prevents the parent from depositing cash to their college student. Normally, it would be an easy way for a parent to deposit cash into a student's checking account. ClearXchange to the rescueĪs previously mentioned, Chase forbids cash deposits into accounts that aren't yours. The fund transfer institution does this because they need to verify, or make sure the bank account is really yours.
Afterwards, you’d have to wait a few days for the "test deposits" (usually a few cents) to hit the external account. Typical fund transfers require that you set up an “external account,” which would need you to enter the bank’s routing number and the recipient’s account number. Bank are currently working to integrate their systems with the network. Nobody has to provide account information to anyone else.Ĭustomers of non-network banks can still use clearXchange but they’ll need to create a clearXchange account and connect it to their bank accounts - a hassle that doesn’t apply to customers of network banks.ĬlearXchange network banks include Bank of America, Chase, Wells Fargo and FirstBank. Bank of America) with just an email or phone number.
Chase) to send money to a customer of another network bank (i.e. The idea is to allow a customer of one network bank (i.e. A briefing on clearXchangeĬlearXchange is a digital payment network made up of banks. Today, I explain what the fuss is all about and I put it to the test so I can show why it is better than all the other person-to-person (P2P) payment methods out there.
#CHASE QUICKPAY SET UP FREE#
The best part is that it's completely free to use.
#CHASE QUICKPAY SET UP HOW TO#
Comprehensive Coverage Options Ways to Lock in Lower Homeowners Insurance Premiums How to Choose the Right Life Insurance Policy Compare the Different Types of Health Insurance Plans Popular Reviews Progressive GEICO State Farm AIG AllstateĪs a Chase customer, I’m very happy to hear this because it has become much simpler for me to send (and collect) money from people who are customers of Bank of America and Wells Fargo.
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