Remove Funds Availability Remove Instant Payments Remove Transaction Limits
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BNY Sends Largest Instant Payment in U.S. History, $10 Million Following Transaction Limit Increase

Fintech Finance

Today, The Clearing House and BNY (NYSE: BK), announced the successful completion of the largest instant payment in U.S. history and the first-ever payment on the RTP network exceeding $1 million, following the recent increase in the networks transaction limit. The post BNY Sends Largest Instant Payment in U.S.

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FedNow is Live. What Changes Should Banking Expect?

Fi911

An innovative payment service has just made its debut in the finance sector. The US Federal Reserve has introduced FedNow ; a new instant payment platform that will facilitate transactions at any given time. As for transaction limitations, the Federal Reserve restricts transfer amounts to a ceiling of $500,000.

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Moving $10mil Instantly: BNY Mellon Completes Record Funds Transfer as RTP Networks Extends Limit

The Fintech Times

The payments system provider, The Clearing House , extended its transaction limit for funds transferred on the Real-Time Payments (RTP) Network from $1million to $10million. Currently, over 285,000 businesses rely on the RTP network each month to send and receive payments.

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