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SEATTLE – BECU has deployed the inter-institution transfer solution TransferNow from CashEdge Inc. to allow the CU’s more than 400,000 members to transfer money to or from accounts at more than 20,000 other financial services. “With our high penetration of online banking users, adding the CashEdge inter-institution transfer capabilities is a natural extension of our online banking and bill payment services, providing our members with added convenience and value in the movement of their money,” says Gary Fee, director of product and delivery channel management at $5.4 billion BECU. TransferNow verifies ownership of external accounts and moves funds via the ACH network, says Sanjeev Dheer, chief executive officer at New York City-based CashEdge. “Our selection by a credit union of BECU’s stature underscores the quality of our technology and the importance of our risk-management expertise. Using TransferNow, BECU is able to serve members better and significantly increase online account activity,” Dheer says. CashEdge now has more than 200 financial institution clients in the United States and Canada, the company says.

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