FedNow (Wikipedia article) is an instant payment service developed by the Federal Reserve for depository institutions in the United States, which allows individuals and businesses to send and receive money. FedNow is intended to be faster and less expensive than other traditional ways that banks in the US send money to each other. FedNow is instant, which is better than the delays of hours or even days for ACH and bank wire transactions. Bank customers, including businesses and individuals, can benefit greatly from FedNow. Does your financial institution participate in FedNow? Continue reading “Does your bank participate in FedNow?”