It is one of the first banks to go live, along with US Bank. Between them, the two banks have a combined reach of about 22 million mobile banking customers in the US.
Customers at both banks will now be allowed to send eligible real-time P2P payments to customers at Bank of America or US Bank.
The solution provides consumers with immediate access to funds, directly in their bank account.
Bank of America retail banking president Thong Nguyen said: "Bank of America is committed to being a leader in payments and making it easier than ever for our clients to manage their finances.
"We’re focused on creating a simple, straightforward person-to-person payments experience that lets our customers pay anyone with a couple of easy, intuitive steps."
For the transaction, the enrolled customer will initiate a P2P payment via online or mobile banking channels. A payment notification will then be sent to the qualified recipient’s email address or mobile number and funds are made available for withdrawal using any channel.
Early Warning CEO Paul Finch said: "At Early Warning, our vision of faster payments is an ecosystem built by financial institutions to provide consumers the ultimate in convenience, flexibility and safety.
"We are proud to partner with these forward-thinking institutions as we bring our real-time payment solutions to consumers nationwide."
