FedNow® Service

The Federal Reserve’s FedNow® Service enables financial institutions of any size, anywhere in the U.S., to provide safe and efficient instant payment services in near real time, around the clock, every day. Through participating financial institutions, businesses and individuals can send and receive instant payments conveniently. Recipients have full access to funds within seconds, giving them greater flexibility to manage their money and make time-sensitive payments.

The FedNow Service continues the Federal Reserve’s historical role of delivering payment services alongside private-sector providers. It offers the market another choice for clearing and settling instant payments, and it promotes resiliency through redundancy. Financial institutions and their service providers can use the service as a springboard to provide innovative instant payment options to customers.