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BMO, The Clearing House to operate in the Real-Time Payments network

Tuesday 13 October 2020 13:51 CET | News

Canada-based investment bank BMO Financial Group has partnered with The Clearing House Payments Company allowing US corporate clients to operate in the bank’s RTP network.

BMO customers will have the ability to send payments via the Real-Time Payments network in 2021.

BMO is a diversified financial services provider. It offers a range of personal and commercial banking, wealth management and investment banking products and services to 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.

In partnership with Mastercard, BMO also recently launched BMO Global Pay in the US. Using Mastercard Cross-Border Services, BMO’s customers can send payments to more than 30 countries.

Customers can view the final exchange rate before sending the payment and track the status of the payment from the moment the payment has been approved. The service is already available to BMO customers in Canada.

 



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Keywords: BMO, The Clearing House, partnership, RTP, RTP network, Mastercard, Canada, US, United States, North America, instant payments, corporate banking, investment banking, multinational investment bank, Bank of Montreal
Categories: Banking & Fintech | Payments General
Countries: United States
This article is part of category

Banking & Fintech