Starting Oct. 19, your accounts will be enabled to automatically receive instant payments. Powered by two leading payment networks, The Clearing House Real Time Payments (RTP®) network and the Federal Reserve FedNow® network, incoming instant payments through these operators will clear and settle into your account in seconds.
What Are Instant Payments?
Instant payments, also known as real-time or faster payments, are electronic money transfers that move funds from a sender to a recipient's account in seconds. Unlike traditional transfers that can take several business days to process, instant payments operate 24/7, 365 days a year.
Key Details About This Service
- Receive-Capability Only: At this time, our system is enabled exclusively for receiving incoming payments. You will be able to receive instant credits from any sender utilizing a financial institution that supports instant payments.
- Outgoing Payments: Continue to use standard ACH, same-day ACH, wire transfers, and Zelle® for consumers for your outgoing transfers.
- Dual-Network Coverage: We connect directly to both The Clearing House Real Time Payments (RTP®) network and the Federal Reserve FedNow® network for receiving instant payments, ensuring maximum compatibility across financial institutions.
- Automatic Activation: No additional setup or registration is required on your part. Your accounts now automatically accept incoming instant payment credits.
Learn More
For details about how these national payment networks function, explore each network operator’s online resources:
With questions regarding your account or incoming transactions, please reach out to your Relationship Manager, other primary point of contact or our Client Services team.
