Merrill Lynch has introduced Web-based wire transfer disbursements for business users of its Working Capital Management Account Cash Manager service.
Merrill says the new feature saves business owners time by allowing them to independently initiate wire transfer disbursements via the Web and monitor their transaction requests through completion.
"With the addition of Web-based wire transfer disbursements, our business clients have access to one of the most comprehensive online business banking tools available to the small and midsize business market," boasts Todd Simms, director of the Merrill Lynch WCMA product group.
The Wall Street investment house launched WCMA Cash Manager in May 2000 as a Web-based banking services for small and mid-size businesses, offering integrated online cash management, information reporting, transaction processing and enhanced control features. The system was developed in association with cash management vendor Politzer & Haney.