U.S. Financial institution has launched Cost Swap, a brand new instrument that enables clients to maneuver recurring invoice funds to their U.S. Financial institution debit or bank cards with out updating fee info at particular person retailers.
Out there to new and present clients, Cost Swap helps customers monitor upcoming prices, determine modifications in recurring bills, and cancel eligible subscriptions.
Developed in partnership with Atomic, Cost Swap is the third part of U.S. Financial institution Straightforward Swap, serving to scale back friction in switching banks and strengthening main banking relationships.
U.S. Financial institution has launched a brand new instrument known as Cost Swap to assist its clients manage how they pay their recurring payments.
Prospects can use the Payments & Subscriptions dashboard on the U.S. Financial institution cellular app to modify the fee methodology for recurring payments comparable to streaming companies, cell telephones, and utility payments to a U.S. Financial institution debit or bank card with out having to vary the fee credentials on every particular person service provider’s web site or app.
“The Payments & Subscriptions dashboard reveals upcoming prices, identifies spend patterns and supplies perception if a recurring fee modifications from prior months – serving to clients catch will increase, keep away from surprises and resolve what subscriptions they need to hold,” the corporate mentioned in a press launch. “By simplifying how clients see and handle their recurring funds, U.S. Financial institution makes it simpler to remain answerable for their funds.”
Cost Swap permits clients to view all of their recurring funds in a single place whereas having visibility of upcoming prices, spot modifications. The instrument additionally permits cardholders to cancel eligible subscriptions immediately inside its app. Bringing account opening, direct deposit switching, and recurring fee administration right into a single expertise permits U.S. Financial institution to handle a number of factors of friction that may stop customers from shifting their main banking relationship. Instruments like Cost Swap assist scale back that burden whereas giving banks a chance to seize a bigger share of consumers’ on a regular basis monetary exercise.
Cost Swap is on the market to each new and present U.S. Financial institution clients and is a part of the financial institution’s broader Financial institution Neatly ecosystem that features checking and financial savings accounts, bank cards, rewards, and digital cash administration instruments. The addition reveals that banks are trying past charges and rewards to compete and as a substitute are including comfort and prioritizing relationships. Cost Swap is the third part of U.S. Financial institution Straightforward Swap, the financial institution’s answer that helps clients transfer their banking relationship to U.S. Financial institution.
The brand new instrument was developed in partnership with Atomic, a Utah-based firm that gives banks instruments for billpay, subscription administration, deposit switching, authentication, and extra. Right this moment’s announcement is an extension of their present partnership; Atomic additionally powers U.S. Financial institution’s automated direct deposit setup.
Based in 2019, Atomic has expanded its attain via a collection of partnerships this 12 months. In August, the corporate teamed up with TD Financial institution to launch Canada’s first totally built-in, in-app payroll direct deposit switching expertise. That very same month, Atomic expanded its partnership with Plaid to make its PayDetect transaction intelligence instrument out there to monetary establishments utilizing Plaid’s present connectivity. Earlier this 12 months, Atomic partnered with Personetics to assist banks provide contextual direct deposit and invoice fee switching inside their digital banking experiences. The corporate raised $10 million in strategic funding in 2025, bringing its whole funding to just about $79 million.
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