Allstate Releases New Digital Claims Payment Method

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.

Source: Allstate