More NewsBank of America Launches Global Advice™ Payment Information System

Bank of America Launches Global Advice™ Payment Information System

Bank of America announced that it can provide detailed payment information to corporate trading partners through a Web-hosted Internet site. The bank’s new Global Advice™ service is an extension of the bank’s existing payment outsourcing capabilities and gives corporations an effective alternative to deliver both payment and detailed payment advice information to all of their trading partners electronically — regardless of the trading partner’s size or technological sophistication. Corporate-to-corporate payments can include vast amounts of detailed information that are often truncated by today’s electronic payment systems such as the Automated Clearinghouse of Fed wire transfer. Trading partners can now download this information from the Web. The service features pro-active e-mail notification to trading partners of incoming payments information and has the ability to aggregate all payment information for trading partners doing business with multiple Bank of America clients. Future enhancements will include payroll, travel and expense reimbursement information to employees and explanation of benefits information for health care providers receiving payments from health care insurers.

Related Articles

Preparing for GDPR? Here’s four things to consider

More News Preparing for GDPR? Here’s four things to consider

2m Elliott Wiseman
Cash flow in focus for investors

Cash Management Cash flow in focus for investors

3m Conor Deegan
Treasury TV: Karen Pugsley, Domino's Pizza Group

More News Treasury TV: Karen Pugsley, Domino's Pizza Group

3m Victoria Beckett
Treasury TV: Yeng Butler compares US and European MMF reforms

Compliance Treasury TV: Yeng Butler compares US and European MMF reforms

3m Victoria Beckett
Treasury TV: Tim de Knegt, The Port of Rotterdam

10 Minutes With The Treasury Treasury TV: Tim de Knegt, The Port of Rotterdam

3m Victoria Beckett
Banks are selling clients short with short dated cash deposit U-turns

Banking Banks are selling clients short with short dated cash deposit U-turns

4m Victoria Beckett
What does sterling’s Brexit boost mean for UK manufacturers?

More News What does sterling’s Brexit boost mean for UK manufacturers?

4m Tasja Botha
FX for corporates: 5 best practices for treasurers

Economy FX for corporates: 5 best practices for treasurers

4m Mateo Graziosi