The FedNow Service is an instant payment infrastructure developed by the Federal Reserve that allows eligible depository institutions to provide instant payment services. Through financial institutions participating in the FedNow Service, businesses and individuals can send and receive payments in real time, around the clock, every day of the year. Financial institutions and their service providers can use the service to provide innovative instant payment services to customers, and recipients will have full access to funds immediately, allowing for greater financial flexibility when making time-sensitive payments.

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