A Wells Fargo sign is seen outside a banking branch in New York July 13, 2012.
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NEW YORK: Depositors at some of the largest U.S. banks are finally going to get the chance to do something quick and simple: send money to another person's account instantaneously by mobile phone.Now, big banks including JPMorgan Chase & Co., Bank of America Corp., Wells Fargo & Co. and U.S. Bancorp are starting to plug into a system they jointly own, called clearXchange, that will allow each others' customers to transfer money in a flash when they split a dinner check, rent payment or vacation bill.The bank is one of two that have started rolling out the system to customers.Bank of America was expected to announce Wednesday that its customers could transfer funds instantly through clearXchange with customers of U.S. Bancorp, which said last week that it was plugged into the speediest part of the network.Analysts expect Wells Fargo & Co. and PNC Financial Services Group Inc. to do the same. Facebook representatives declined to comment on the banks' plan, but said the company is continuing to improve Messenger's payment functions.
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