Trends & Research

Trends & Research

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Published on Saturday, April 16, 2022

TCH RTP Rule change effective 4/18/2022 including Maximum Payment Amount

 

 

The Clearinghouse Real-Time Payment solution was launched in 2017. Since its launch, it has regularly updated and revised the Rules to better serve the community. Effective Monday, the maximum payment amount is being changed to keep pace with the evolving faster payments landscape. I encourage you to regularly visit The Clearinghouse RTP Document center to stay current with the Rules. The 4/18/2022 Rules changes are summarized below:

To: All RTP® Participants

RTP Rule Changes effective April 18, 2022

Please visit the online library of the new versions of the RTP Operating Rules, Participation Rules, and Summary of changes that become effective April 18, 2022. Maximum Payment Value: The maximum payment value the RTP system will process is increasing from $100,000 to $1,000,000. Receiving Participants - Receiving Participants are required by RTP Rules to accept payments up to the network maximum amount. The RTP system will never send through a message with a payment amount in excess of the network maximum, so there is no need for Receiving Participants to screen for the maximum amount. Sending Participants - Sending Participants remain free to choose their own maximum send amounts for their institution or individual customers, so long as it does not exceed $1,000,000. Puerto Rico: Federally insured depository institutions (Banks, Credit Unions) located in Puerto Rico will be to participate in the RTP network. Accounts located in Puerto Rico will be located in the United States for purposes of the no foreign payments rule. Current participants may begin receiving payments from eligible Puerto Rican depository institutions that join the network. Funding Agent Data: This change permits TCH to share information with Funding Agents about their non-Funding Participants' RTP activity that Funding Agents need to support that activity. This change has no direct impact on Participants or TPSPs but does help support Funding Agents with near real-time data. If you have any questions, please contact RTPAdministration@TheClearingHouse.org.

 

Maximum Payment Value:

The maximum payment value the RTP system will process is increasing from $100,000 to $1,000,000.

Receiving Participants -
Receiving Participants are required by RTP Rules to accept payments up to the network maximum amount. The RTP system will never send through a message with a payment amount in excess of the network maximum, so there is no need for Receiving Participants to screen for the maximum amount.

Sending Participants -
Sending Participants remain free to choose their own maximum send amounts for their institution or individual customers, so long as it does not exceed $1,000,000.

 

Puerto Rico:

Federally insured depository institutions (Banks, Credit Unions) located in Puerto Rico will be to participate in the RTP network. Accounts located in Puerto Rico will be located in the United States for purposes of the no foreign payments rule.
Current participants may begin receiving payments from eligible Puerto Rican depository institutions that join the network.

 

Funding Agent Data:

This change permits TCH to share information with Funding Agents about their non-Funding Participants' RTP activity that Funding Agents need to support that activity.
This change has no direct impact on Participants or TPSPs but does help support Funding Agents with near real-time data.

If you have any questions, please contact RTPAdministration@TheClearingHouse.org

 

 

Joe Casali, AAP, NCP

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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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