About our FedNow news
Latest news on FedNow, a new instant payment service developed by the Federal Reserve that allows financial institutions of every size across the U.S. to provide safe and efficient instant payment services. It launched on July 20, 2023 and is the first U.S. government-created and -backed portal allowing banks to send and receive funds almost instantly. FedNow is not a form of currency, nor a step toward eliminating any form of payment, including cash.