ISO 20022, Message Standards and Transaction Limits

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ISO 20022

Message Standards

Transaction Limits

BofA Clients Embrace New $10 Million Limit in U.S. Real-Time Payments

Fintech Finance

JUNE 10, 2025

Recent action from The Clearing House to increase the transaction limit on real-time payments from $1 million to $10 million is fueling new use cases in business-to-business payments among Bank of America clients. RTP uses ISO 20022, the international standard for financial messaging.

Real Time Payments

Real Time Payments RTP ISO 20022 Transaction Limits

Fed Says America Needs Instant Payments As Soon As Possible

PYMNTS

AUGUST 7, 2020

She said that broad access will also come with interoperability, as the Fed will use the widely accepted ISO 20022 messaging standard to help route payments through FedNow or other payment services. That will include allowing banks to set various transaction limits.

Fed

Fed Instant Payments FedNow Interbank Settlement

Payments Space

BofA Clients Embrace New $10 Million Limit in U.S. Real-Time Payments

Fed Says America Needs Instant Payments As Soon As Possible

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