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Using phone and computer for Real-Time Payments ;

Real-Time Payments

Payment Power in the Palm of your Hand

Instant transfer, full access, no cancellations. The future of monetary transfers is now. Both Venmo and DailyPay have adopted the Real-Time Payments (RTP) and FedNow networks, which are the latest innovations in fund transfers. Consumers Credit Union is also committed to supporting RTP and FedNow, both of which deliver funds immediately.

That means unrestricted access of the receiver to the full amount of the transaction. It's different from the Automated Clearing House (ACH) network that's been used for decades – and will soon be a relic of the past.

ACH puts checks and other transfers on hold until funds arrive, initially sends only part of the money, and waits for banks to greenlight transactions. In this day and age, we should be able to do better.

That’s why we support RTP and FedNow. Not only are transfers immediate, but they can't be cancelled or revoked by the sender. They can't be held up by the whims or old-school protocols of banks. And since RTP and FedNow are 24/7 in nature, you can make and receive payments at night, on weekends, during holidays, and just whenever the heck you want to.

The RTP and FedNow networks are expanding every day, but for the moment your best bet is to continue to use Venmo and DailyPay. There are no reserves, holds or limitations. Now that’s the way money should move.

 

Send and Receive Money Instantly:

  • Immediate fund delivery.
  • Unrestricted access of the receiver to the full amount of the transaction.
  • Funds can't be cancelled or revoked by the sender.
  • RTP and FedNow are 24/7 in nature. You can make and receive payments at night, on weekends and during holidays.