Bank of America mobile customers can now send more money to their buddies.
The megabank quietly increased its dollar limit to $2,500 from $1,000 on mobile peer-to-peer payments, which the bank formally calls its Email/Mobile Transfer Network Service. The service includes clearXchange, the bank P2P payments network.
Bank of America also increased to $5,000 from $3,000 the maximum amount it will allow to be transferred through the service during a 24 hour period.
It appears that the change went into effect around Aug. 25. It is not clear whether other banks similarly increased their ClearXchange transfer limits.
ClearXchange was launched in 2011 and is owned by Bank of America, Capital One, JPMorgan Chase, U.S. Bank, and Wells Fargo. FirstBank is also a member of clearXchange. In June, ClearXchange began offering a real-time payments solution.
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