BofA Merrill launches Accelerated Payments to Asia

Wednesday 18 September 2013 00:37 CET | News

Global financial services provider Bank of America Merrill Lynch (BofA Merrill) has launched Accelerated Payments to Asia, a service that aims to assist banks and corporations in making high value US dollar payments to Asian markets.

The service is designed for both global institutions that send commercial payments to beneficiaries in Asia as well as for Asia-based institutions whose trade within the region is denominated in US dollars.

Accelerated Payments to Asia uses a routing technology that recognizes payments and passes them through in-country US dollar clearing systems via a bank account.

Bank of America Merrill Lynch’s global escrow services group now covers 15 jurisdictions across Europe, Asia, North and South America. Bank of America provides individual consumers, small and medium sized-market businesses and large corporations with range of banking, investing, asset management and other financial and risk management products and services.

In recent news, Bank of America Merrill Lynch has extended its Global Transaction Services (GTS) business in Canada.

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Keywords: Bank of America Merrill Lynch, Accelerated Payments to Asia, bank account
Categories: Payments & Commerce
Countries: World
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