The Federal Reserve has launched an instant payment service called FedNow, which allows banks and credit unions to sign up to send real-time payments so they can offer customers a quicker way to send money between banks.
FedNow, which was first announced in 2019, published a list of banks and credit unions that are already signed up to the service. However, it might take longer for customers to be able to use the service with their bank.
Here’s what you need to know about FedNow.
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