FedNow and Real-Time Payments FAQ

What is the difference between instant payments, ACH, and Wire Transfers?

The biggest difference is funds availability and processing times. 

Although same-day ACH and Wire Transfers move funds quicker than a next-day ACH or check, they still aren’t processed as quickly as RTP® or FedNow transactions. Here's how they stack up:

	RTP® or FedNow	Same-Day ACH	Wire
Typical Funds Availability	Immediate	Throughout Transaction Day	Immediate
Processing	24x7x365	During Business Hours	During Business Hours

 

FedNow and Real-Time Payments FAQ

• When are the funds from an instant payment available in my account?
• Who can send a FedNow or RTP® instant payment?
• What if I send an instant payment transaction to the incorrect account number?