Banks providing Real-Time Instant Payments

What are Real-Time Payments

In a business-to-business context, RTP offered by The Clearing House is a credit “push” system. Payments are pushed from the bank account of the business making the payment to the bank account of the company receiving it. In between, RTP supports the financial institution’s customer-facing systems for services like bill payment, cash management, peer-to-peer (P2P) payments, and emergency disbursements. Messages such as requests for payment, payment confirmations, requests for additional information, and remittance detail are used to create frictionless customer-facing interactions. TCH's system is the only privately owned Real-Time Payment "Rail" that can reach all U.S. bank and credit union accounts and enable funds to be sent and received within seconds. All TCH Real-Time payments are "Credit Push" instead of "Debit Pull."
Not all Real-Time Payments are Good Funds. Real-Time Credit Card Payments and Real-Time ACH, although having the feature of instant settlement upon batching are not Final and Irrevocable.

Listing of Financial Institutions offering Real-Time Payments

Banks offering RTP by The Clearing House

The Clearing House allows all U.S. Financial Institutions (FI) to participate in offering Real-Time Payments. FI's can offer "send only" or "send and receive". Because of development and operational costs most banks and credit unions will offer "send only" capabilities. The larger banks and smaller FI's, working through Third Party Service Providers, such as FiServ, ACI Worldwide, FIS, Jack Henry, etc., will provide their commercial business deposit accounts the ability to send and receive payments in real-time.

Features & Benefits

TCH Real-Time payments has benefits for all parties involved in Financial Transactions.
Benefits to your company include:

Money Transfer: Current limit of $1,000,000 per transaction.
It's Fast: 24/7/365 access to funds anytime vs. several days for paper checks or ACH transfers to process.
It's Final: Because TCH says so. All RTP are Final & Irrevocable (see Good Funds below).
Software Integration: Integrate your Management or Enterprise software with us.
Message Detail: Full 145 characters available using ISO 20022 XML format.
Online Down Payments: Don't use inconvenient and expensive Wires & Cashier's Checks.
Online Real-Time Reporting: Configured Dashboard with Virtual Terminal login.
Reduced calls / emails in the "Purchasing Chain": All parties to a "TCH Real-Time payments" transaction receive text & email messaging.

Real-Time Payments via The Clearing House are GOOD FUNDS! The RTP System enables Participants to initiate credit transfers, receive final and irrevocable settlement for credit transfers, and make available to Receivers funds associated with such credit transfers in real-time, twenty-four (24) hours a day, seven (7) days a week, fifty-two (52) weeks a year.

List Financial Institutions Enrolled for RTP (updated monthly)® with The Clearing House

Fees for RTP ® with The Clearing House

Accept and Send Real-Time payments. Keep your existing bank account at your current bank.

Apply NOW

Major banks offering Real-Time Payments through The Clearing House:

Banks offering FedNow by the Federal Reserve

Federal Reserve Banks will develop a new round-the-clock real-time payment and settlement service, called the FedNow ® Service, to support faster payments in the United States. What are FedNow Real-Time payments: FedNow - Federal Reserve Real-time Payments The Federal Reserve's FedNow Service will be the second system (see The Clearing House RTP) offering Real-Time Payment "Rail" that can reach all U.S. bank and credit union accounts and enable funds to be sent and received within seconds.

Federal Reserve FedNow Service Frequently Asked Questions
August 5, 2019 Federal Reserve announcing FedNow Real-Time Payments!

Features & Benefits

FedNow Service Real-Time payments has benefits for all parties involved in Financial Transactions.

Features under consideration for the FedNow Service include:

Processing individual credit transfers valued at $1,000,000 or less in real time (within seconds) on a 24x7x365 basis
Settling payments through debits and credits to balances in financial institutions’ master accounts at the Reserve Banks, with an end-of-day balance recorded for each day of the week
Providing liquidity through intraday credit on a 24x7x365 basis under the same terms and conditions as for current Federal Reserve services
Adhering to the ISO^® 20022 standard and providing access through FedLine^® connections
Allowing participating financial institutions to designate a service provider to submit or receive payment instructions on their behalf and settle payments in the account of a correspondent bank

FedNow Service

Board Press Release (Off-site)

FedNow Service FAQs (Off-site)

FedNow Service Interest Form (Off-site)

FedNow Service Product Sheet (PDF)

Settlement Assessment (Off-site)

Real-Time Payments via FedNow are GOOD FUNDS! FedNow RTP System enables Participants to initiate credit transfers, receive final and irrevocable settlement for credit transfers, and make available to Receivers funds associated with such credit transfers in real-time, twenty-four (24) hours a day, seven (7) days a week, fifty-two (52) weeks a year.