Wells Fargo is the latest bank to offer its customers real-time person-to-person payments through Early Warning's clearXchange network.

Beginning Aug. 1, Wells Fargo's service will allow its customers to send funds in real-time at no cost to any customer of a bank that participates in clearXchange. Wells Fargo customers can already receive real-time payments at no cost from customers at any bank participating in the network, according to a company press release.

"At Wells Fargo, we're always looking for new ways to make our customers' lives easier, and one thing we've been hearing is that they'd like to be able to quickly send money to their friends, family and other people who bank with other financial institutions," said Brett Pitts, head of digital for Wells Fargo Virtual Channels. "We're very excited to announce that Wells Fargo customers will soon have access to real-time P2P payments through our mobile app, which will allow them to securely send and receive money with tens of millions of banking customers across the country, at any time, with immediate funds availability."