U.S. Bank launched a new product called Enhanced Payments, which is a bundled solution that helps small business owners move money quickly and more affordably.
The Enhanced Payments tool allows customers to move money directly within U.S. Bank online banking and the bank’s mobile app.
Businesses can complete international wires digitally rather than at a branch and move money quickly with convenient options such as same-day ACH and instant payments. With lower per-transaction fees, secure anytime/anywhere access, and multiple payment options, the bundled solution is built to give business owners more control over their cash flow.
Overall, this online banking tool offers owners the ability to track all of their accounts, move money, and conduct other activities all within one digital interface.
“We are thrilled to launch Enhanced Payments as we continue to expand a digital ecosystem that supports the banking needs of small business owners,” said Shruti Patel, chief product officer for business banking at U.S. Bank. “By integrating advanced money movement capabilities directly into online banking, we’re helping clients move money quickly and conveniently. This solution not only saves time and reduces costs, but it also gives business owners the flexibility and clarity they need to manage payments with confidence as they grow.”
Enhanced Payments is offered as a $25-per-month subscription that provides significant discounts on per transaction fees.
Headquartered in Minneapolis, U.S. Bank, a subsidiary of US Bancorp, is the fifth-largest commercial bank in the United States. Its three major business lines serve 15 million clients globally.