12th Aug, 2016

US Bank Wants to Cut out the Payments Middlemen

US Bank today wrote to customers to advise them that the bank had now made their payments to other US bank recipients free of charge, in a move designed to cut out the 'middlemen'.

In what will no doubt a welcome move for the bank's customers, US Bank account holders will no longer be forced to look for third party providers, or setup accounts with other banks just in order to avoid paying fees (which typically cost between $1-$2 per transaction) for payments to their other accounts, friends, family or other recipients.

Customers of the bank had previously been able to avoid these fees, like customers of other banks, by meeting certain criteria - such as depositing salary payments, or holding a minimum balance. However, as the bank has noted in its correspondence to customers, a copy of which can be found below, US Bank has now "eliminated all fees for our Send Money service, available in US Bank Online and Mobile".

The correspondence follows the typical template of US Bank correspondence, with links to social media and the bank's website built in, though as noted with earlier US Bank correspondence - this homogenous approach does lend itself to observations of blandness.

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