FedNow Service


The Federal Reserve System of the United States (FRS) is preparing to launch its own payment system called FedNow Service.

Banks and credit institutions can register and utilize this tool for instant money transfers to their customers – 24 hours a day, 7 days a week, eliminating the current multi-day delay in cash payments and the need for intermediaries.

FedNow will bring the United States in line with other countries such as the United Kingdom, India, and the European Union, where similar systems have already been in existence for some time.

Initially, FedNow will have a maximum payment limit of $500,000 US dollars, but individual banks can lower this limit if necessary.

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