Bank 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.
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