With just an email address or mobile phone number, consumers can now get an Allstate claim payment made directly to their bank account in a single day with Fast Mobile e-Payments, now available in the new Allstate ExpressPays portfolio.
Working with Bank of America Merrill Lynch, Allstate became the first U.S. company to use the new digital disbursement method.
Fast Mobile e-Payment eliminates delays that can occur with snail mail and lost checks by requiring only an e-mail address or mobile phone number in order to process a payment. The new solution – which can be faster than all existing payment methods, including Electronic Funds Transfer – is immediately available across the U.S. and works with any bank to handle all Allstate auto and property insurance claims that have a single payee.
Here’s how the service works:
- A consumer confirms he/she is willing to be paid utilizing Fast Mobile e-Payment.
- Allstate gathers email address or mobile phone number from the consumer and sends information to Bank of America Merrill Lynch.
- Consumer gets an email or text message with instructions on how to receive payment.
- A one-time registration process is performed by the consumer that will register their email address or mobile phone number in order to receive payment.
- Once registered, consumer automatically receives the payment into his/her account.
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