Wells Fargo has launched a new mobile customer-to-customer payment option, which allows Wells Fargo customers to transfer money to each other via the Wells Fargo Mobiles Banking service.
Wells Fargo has said that customers simply log-on to online banking, add the account number of the customer to whom they wish to transfer money and make a first-time transfer. Subsequent transfers can be made from the customers’ mobile device by logging onto WF.com and following the prompts, or online from their computer. Customers can transfer up to $1,000 daily to another customer the moment they think about it, taking it off their “to do” list.
Arah Erickson, vice president and head of Wells Fargo Retail Mobile Banking, said: “More and more Americans are using mobile devices for banking. The added ability to transfer funds while on the go will be especially helpful for parents who have kids in college this fall as well as for students who need quick access to money at the last-minute to cover living costs, textbooks, or to split an expense with a roommate.”
Adam Vancini, senior vice president at Wells Fargo Internet Services Group, said: “Our research shows there is strong interest in transferring money from a mobile device, as well as online. Wells Fargo’s secure mobile banking ensures that key banking tasks such as transferring funds, paying bills, receiving alerts and reviewing account balances can all be done ‘on the go.’ We want to deliver a complete set of financial solutions to satisfy our customers’ needs and to deliver those solutions in new and convenient ways.”
