Trends & Research

Trends & Research

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Published on Monday, April 3, 2023

2023 FedNowSM Service Pricing Now Available

The Federal Reserve recently announced pricing for the FedNow Service, which will launch mid-year 2023. To support widespread adoption of instant payments, the Federal Reserve is offering key pricing discounts for new FedNow Service customers in 2023.

These include waiving the $25 monthly service fee ($300 annual value) and discounting the $0.045 customer credit transfer fee on the first 2,500 customer credit transfers per month (up to $1,350 annual value).

Other FedNow Service fees for 2023 include:

•     $1.00 liquidity management transfer fee

•     $0.01 request for payment fee

•     $0.045 return customer credit transfer fee

More information, including a summary of pricing changes and highlights for all Federal Reserve Financial Services, can be found on FRBservices.org.

 

Joe Casali, AAP, NCP

 

AUTHOR: Joe Casali, AAP, NCP
Executive Vice President

As the EVP of Payments Innovation for NEACH, Joe focuses on exploring innovative solutions and technologies that will help position members for success, both now and in the future. Connect with Joe to read more of his blogs, articles, and posts.

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