PYMNTS

MAY 10, 2019

The Federal Reserve has released a request for comment on potential changes to its National Settlement Service (NSS) and Fedwire Funds Service, as well as feedback on a possible new posting time for transactions, and an increased daylight overdraft fee. ET; [and] extending the closing of the Fedwire Funds Service by 30 minutes to 7:00 p.m.

FedWire 51

FedWire Same Day ACH Federal Reserve Nacha Operating Rules 51

PYMNTS

JANUARY 28, 2021

And in another bit of anecdotal evidence that payments processing is in the crosshairs of financial institutions (FIs) large and small, earlier this year , Texas-based Vantage Bank Texas said it deployed CGI All Payments as part of the community bank’s digital transformation.

Process 60

Process Treasury Treasury Management FedWire 60

Stax

SEPTEMBER 17, 2024

To initiate a wire transfer, the sending bank sends a message with the payment instructions to the recipient’s bank via a secure wire transfer network, such as Fedwire or the Society for Worldwide Interbank Financial Telecommunication (SWIFT). Remember, ACH transfers have lower costs and some banks provide free ACH processing.

Wire Transfer 88

Wire Transfer Wire Wires ACH 88