How Banks Can Overcome 10 Challenges with FedNow Payment Sending and Acceptance
Finovate
OCTOBER 16, 2024
The Fed also charges a liquidity management fee of $1 per transfer. Another reason firms may be reluctant to join FedNow is that the new payment rail comes with a set of challenges for both sending and receiving payment. Managing customer payment errors With instant payments, there is not much time to correct mistakes.
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