NEW:Get instant payments into your BankFund Accounts
Your money moves now!
Your BankFund account provides instant payments1
and faster access to your funds.
QUICK
Payments deposited into your BankFund account in seconds.
SECURE
Backed by the Federal Reserve.
ALWAYS ON
Instant payments can be
received
24/7, 365 days a year.
Important to Know
Instant Payments will first launch as a receive-only feature. You will be able to receive instant
payments if the sending institution participates in the FedNow service offered by the Federal
Reserve.
To learn more, visit The
Fed - Frequently Asked Questions.
How does it work:
The sending institution provides the authorization for the payment. They will be
responsible for verifying and approving the payment.
Funds are transferred
directly between participating financial institutions within seconds, debiting the
sender’s account and crediting the receiver’s account in real time.
General Questions
Do I need to enroll to receive an instant
payment?
No enrollment is needed.
Can I also send money instantly?
Which accounts are available to receive
payments?
Checking and Savings accounts.
What
financial institutions are supported or in-network?
The fastest way to confirm that the sending party's financial institution is a FedNow participant is to call the bank or credit union.
Participation in FedNow doesn’t guarantee that the service is available to all customers yet. Even if the financial institution is listed in the Official FedNow Participant Directory, they may still be in the process of rolling out FedNow features.
Will International transfers also be deposited in
real time?
No, this service is only available for domestic payments.
1FedNow Service is an instant payment system from the Federal Reserve that allows for 24/7, 365-day instant payments between participating financial institutions.