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.