BofA Merrill Lynch expands ACH payments capabilities on CashPro®

Published 
  • Clients Can Now Make Payments via CashPro to 60 Countries and in 22 Currencies

NEW YORK – Bank of America Merrill Lynch, a leader in global transaction services, has announced that it has substantially increased its international payments capabilities via the bank’s online and file-based banking portal, CashPro®. Today, tens of thousands of CashPro users can make cross-currency Automated Clearing House (ACH) payments to 60 countries and in 22 currencies, creating an easier and more cost-effective way for companies to pay vendors, contractors and customers.

ACH payments use country-specific clearing systems and are ideal for low-value or recurring payments. While BofAML offered these capabilities previously, they were only available to a relatively small number of clients. Today, thousands of clients can use CashPro to send payments to dozens of countries and in numerous currencies.

“Our enhancement of CashPro with the ACH payments capability is perfectly timed given the exponential growth of global payments around the world. Clients can now process their cross-border payments in a convenient and economical way,” said Ather Williams, head of Global Transaction Services. “Through this and other innovations, we strive to maintain our position as the provider of choice for companies with increasingly complex cash management needs.”

BofA Merrill clients can access the new payments capability through CashPro Payments or CashPro Connect. The payments can be made to either individuals or businesses.

“We are pleased to add this expanded cross-currency payment method to CashPro,” said Hilani Kerr, head of Global Cross-Currency Product. “These critical enhancements were made in direct response to client demand, and represent another important step in our mission to help break down the barriers for companies to make low-value payments around the world.”

In addition to cross-currency ACH, CashPro users can access a global suite of payments solutions, including wire transfers for urgent and high-value payments, high-volume payments, Digital Disbursements, card solutions and ePayables and receipts management.

Most recent episodes

Advantage Treasury

Eleanor Hill is joined in the virtual TreasuryCast studio by Nicolas Cailly and Philippe Penichou (Societe Generale) to look at treasury trend predictions for the remainder of 2022, with a particular focus on virtual accounts. In this deep dive into current and future treasury priorities, our guests consider...

24:22

40th Annual New York Cash Exchange: What Can Treasurers Expect?

Ahead of the 40th annual New York Cash Exchange, two of TMANY’s distinguished board members, David Miller and Timothy T. Hesler, CTP, provide TMI CEO, Robin Page, with a quickfire rundown of what attendees can expect from this year’s conference. Our guests share their aspirations for the event,...

09:58

Expectation-Beating Inflation Prints Ratchet Up Pressure on Monetary Policy

Welcome to the third edition of Liquidity Link Live, your exclusive market analysis provided by Northern Trust Asset Management, one of the world’s largest cash managers. Tune in each month to discover the very latest insights on the UK, Eurozone and US markets. This edition was recorded on the 9th May...

04:48

Making the Sustainable Transition: A Roadmap to ESG in Treasury

Over the last 18 months, Societe Generale has experienced a steady increase in requests from their corporate clients to integrate ESG features in treasury management.  Louis-David Rouyer, Philippe Pougeard, and Emmanuelle Petelle (Societe Generale) provide TMI’s Eleanor Hill with a whistlestop run...

22:24

Lift Off for Fed Rate Rises

Welcome to the latest edition of Liquidity Link Live, your exclusive market analysis provided by Northern Trust Asset Management, one of the world’s largest cash managers. Tune in each month to discover the very latest insights on the UK, Eurozone and US markets. This edition was recorded on the 5th of...

04:58

Treasury in 2022 and Beyond

Industry experts Bob Stark (Kyriba) and Sebastian di Paola (PwC) join TMI’s Editor, Eleanor Hill, to explore the very latest treasury trends – and to discuss how smart treasurers can get ahead of the game by ...

43:21

How BearingPoint Harnessed Data-Driven Forecasting with CashAnalytics and SAP

Listen back to our recent forecasting masterclass, where Group Treasurer Eveline Stam, and Conor Deegan (CashAnalytics) provided TMI’s Eleanor Hill with a comprehensive overview of how consultancy firm BearingPoint achieved company-wide cash forecasting nirvana by combining specialist solutions from...

37:14

The 3 T’s of The Future: Tech, Treasury, and Transformation

Over the past two years, an increasingly dynamic environment has not only accelerated technology development – from quantum computing to blockchain technology, and even the metaverse – but also technology adoption, bridging colleagues and breaking down silos in a remote work world. In this podcast,...

44:02

Monetary Policy Continues to Drive Markets as Ukraine Invasion Weighs on March Meetings

Welcome to the second edition of Liquidity Link Live, your exclusive market analysis provided by Northern Trust Asset Management, one of the world’s largest cash managers. Tune in each month to discover the very latest insights on the UK, Eurozone and US markets. This edition was recorded on the 3rd of...

05:25

Tax Spotlight: How the OECD’s Two-Pillar Solution Impacts Treasury

Aaron Lee and Joseph Lee (DBS Bank) join TMI’s Eleanor Hill to discuss how the OECD’s Two-Pillar Solution aims to address the tax challenges arising from the digitalisation of the economy. Ahead of the 2023 implementation date multinational corporates will have much to consider around these reforms....

24:00