Bank of America Bank Transfers and Electronic Funds Transfer Processing


Delivering professional attention for Bank of America business merchants.

As a team of programmers, accountants and payment professionals, we've discovered that most business merchants have little access to data tools and services that "big merchants" have. Our team has launched its platform to deliver new services, including Same-Day Payments & Deposits with Real-Time reporting and will continue our introduction of FinTech services into the future.

Let us help you integrate with Bank of America Open Banking API

Secure Open Financial Exchange provides a framework for building secure online financial services. In Open Financial Exchange, security encompasses authentication of the parties involved, as well as secrecy and integrity of the information being exchanged.

Robust Open Financial Exchange is used for executing important financial transactions and for communicating important financial information.

Broad Range of Financial Activities for Bank of America customers – Today Payments provides support for a broad range of financial activities. Using Open Financial Exchange 2.2 and other APIs, we can provide the following services:
  • ~ Bank statement download
    ~ Credit card statement download
    ~ Funds transfers including recurring transfers
    ~ Loan statement download
    ~ Consumer payments, including recurring payments
    ~ Business payments, including recurring payments
    ~ Brokerage and mutual fund statement download
    ~ Bill presentment and payment
    ~ Tax form download, including 1095, 1098, 1099, and W2
    ~ Image download for banking, credit cards, investments and loans
    ~ Automatic 1-Way OFX
    ~ Instant Payment Services
    ~ Real-Time Payments
    ~ Open Banking

Domestic & International (Cross-Border)

Broad Range of Financial Institutions can communicate with Bank of America customers – With Open Financial Exchange and other FinTech APIs, Today Payments supports communication with a broad range of financial institutions (FIs), including:

With our Bank of America Bank Transfers credit payment processing, financial transactions between you and your customers are instantly verifiable, hassle-free and secure. Reporting is streamlined, instantaneous and user-friendly.

Bank of America Open Banking at a Glance

The design of Open Financial Exchange is as a client and server system. An end-user uses a client application to communicate with a server at a financial institution. The form of communication is requests from the client to the server and responses from the server back to the client.

Open Financial Exchange uses the Internet Protocol (IP) suite to provide the communication channel between a client and a server. IP protocols are the foundation of the public Internet and a private network can also use them.

"For customers who use data aggregation services, we are making it more transparent and simpler for them to see who they're sharing data with and to turn it off when they want," says Bank of America's Michelle Moore.

Earlier this week, Bank of America announced that it was working with two data aggregators on a new data-sharing model that will also use APIs.

The experience is expected to work like this: Customers log in to the data aggregation service they use and are asked to verify or add a Bank of America account. They will then be connected to the Bank of America site to acknowledge their consent to share data. A spokeswoman declined to identify the two partners and said only that the bank is working with "all the major aggregators" to test this data-sharing model.

"We value customer choice and want customers to securely access their information when and where they want," Michelle Moore, head of digital banking at Bank of America, said in a statement. "For customers who use data aggregation services, we are making it more transparent and simpler for them to see who they're sharing data with and to turn it off when they want."

The model is similar to the ones other large banks have


Our in-house Bank Transfers experts are standing ready to help you make an informed decision to move your company's payment processing forward.

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