Recipient Select
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What if you made customer payments more about your customers?
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Recipient Select from Bank of America
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Video footage of a man making transactions on a smart phone, followed by a series of images that indicate customers seeking these types of payments, including a woman at an insurance office, a woman playing guitar, a designer, a patient in a doctor’s office and more.
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Recipient Select from Bank of America lets your customers decide how they want to receive payments such as insurance claims, royalties, gig-economy wages and more by choosing from today’s leading payment options. It can help you deliver a customer experience that sets your business apart while simplifying your back office and helping you switch more payments from paper to electronic.
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Insurance claims
Royalties
Gig-economy wages
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Video footage of people receiving funds on a smart phone, tablet and other mobile devices, and a physical check.
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For U.S. recipients, payment choices include Zelle®, ACH, PayPal®, Real-Time Payments, and check. There’s also a new payment type for people who want to receive funds directly to their bank account using their debit card, called Pay to Card.
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Zelle®
ACH
PayPal®
Real-Time Payments (RTP®)
Check
Pay to Card
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Moving images of a woman on a balcony gazing at lit paper balloons in a far off land, and cars on the streets of a foreign metropolis.
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Additionally, you can reach recipients in more than 140 countries via cross-currency ACH, cross-border wire and PayPal. And we’ll continue to enable new payment types that your customers use most.
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Cross-currency ACH
Cross-border wire
PayPal®
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Animation that features a bank building and document that says “Payment Information.” A new image appears of an email. A third image appears that shows payment type choices. A final image appears that asks whether the recipient wants to save the payment preference. The animation closes with the words “No need to collect or store sensitive information.”
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Here’s how Recipient Select works. When you need to pay someone, just send us the payment information and the recipient’s email address. We send the recipient an email with your branding that invites them to choose a payment type. The recipient enters their choice on a custom portal that looks like your website, even though we host it for you and store the information for future payments.
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A three panel illustration appears that shows analytics on a laptop with data flowing to a cloud and finishing in a secure portal.
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Whatever payment type a recipient chooses, you don’t need to collect or store any sensitive information on your systems—even if they elect to receive their funds via bank transfer. But you can still access and analyze the payment information.
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An illustration a shield appears with a lock inscribed on the surface.
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The recipient portal is secure, and it can help reduce fraud, since it uses powerful, multi-factor authentication to validate recipients’ identities.
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Secure
PCI-compliant
Multifactor authentication
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Video footage shows a woman on a train working on a laptop and transitions to a scene of two office workers in various environments.
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Recipient Select brings you these payment choices through one, simple implementation. So you can modernize your back office and adapt to evolving consumer preferences all at once, without onboarding each payment type separately.
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One simple implementation
No need to onboard each payment type separately
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Video showing everyday people with mobile phones in offices, in their homes, on college campuses and on city streets.
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Helping you boost customer delight and putting you at the edge of what’s next. It’s part of how we’re working every day to deliver breakthrough banking to you.
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What would you like the power to do?
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Bank of America logo
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“Bank of America” and “BofA Securities” are the marketing names used by the Global Banking and Global Markets divisions of Bank of America Corporation. Lending, other commercial banking activities, and trading in certain financial instruments are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC. Trading in securities and financial instruments, and strategic advisory, and other investment banking activities, are performed globally by investment banking affiliates of Bank of America Corporation (“Investment Banking Affiliates”), including, in the United States, BofA Securities, Inc. and Merrill Lynch Professional Clearing Corp., both of which are registered broker-dealers and Members of SIPC, and, in other jurisdictions, by locally registered entities. BofA Securities, Inc. and Merrill Lynch Professional Clearing Corp. are registered as futures commission merchants with the CFTC and are members of the NFA.
Investment products offered by Investment Banking Affiliates:
Are Not FDIC Insured • May Lose Value • Are Not Bank Guaranteed • May Lose Value
“Bank of America” is the marketing name used by certain Global Banking and Global Markets businesses of Bank of America Corporation. Lending, other commercial banking activities, and trading in certain financial instruments are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC. Equal Housing Lender Zelle, and the Zelle related marks are wholly owned by Early Warning Services, LLC and are used herein under license.
©2021 Bank of America Corporation. All rights reserved.
