Communications
Announcing 2027 Federal Reserve Financial Services fees and payment modernization efforts
November 12, 2026
Thank you for your continued trust in Federal Reserve Financial Services (FRFS). I’m pleased to share our new pricing structure – an important next step in how we support your business – designed to unlock new opportunities, deliver greater value and strengthen our partnership.
We deeply value our long-standing relationship and remain committed to delivering the reliability, service and value you’ve come to expect from FRFS.
Explore new possibilities with your business
In 2027, we will take the first step in a multiyear initiative to simplify and modernize our pricing structure and provide new opportunities to maximize savings by eliminating or reducing connectivity fees for FedLine® Solutions and introducing an FRFS Access Fee. Together, these changes will make it easier to do business with us and prepare your financial institution for the future through streamlined access to critical payment services, risk-management tools, analytics and APIs that support new business growth.
Unlock savings with new discount offerings
We remain committed to helping your institution achieve greater value and are also excited to introduce new savings opportunities designed with that goal in mind.
Your institution could be eligible for the Access Fee Discount, which offers 25% savings on the FRFS Access Fee if you are a Premium Receiver for both FedACH® and Check Services, as well as have a FedLine Advantage®, FedLine Command® or FedLine Direct® connection.
Additionally, the recently announced FedNow® Discount Program will be available to new and existing FedNow participants andoffers targeted financial discounts, delivered through statement credits to support institutions in activating and scaling instant payments while also benefiting from a host of value-add services.
Service-specific pricing changes
These overarching changes complement our service-specific pricing changes, which can be found on the Service Fees page via FRBservices.org®.The impact of the fee changes on your financial institution will depend on your product mix, choices and volume.
All changes outlined in this communication will be effective January 1, 2027.
Building for the future
In addition to the changes above, we will continue modernizing our products and services to benefit customers and the broader payments ecosystem in 2027 by:
- Building on the momentum of instant payments by expanding opportunities for institutions to adopt and grow with the FedNow Service.
- Providing fraud mitigation tools, insights and education to help the payments ecosystem aggressively combat fraud threats.
- Preparing for the Fedwire® Funds and National Settlement Services to expand to six operating days in 2028 or 2029 – another step toward a payments ecosystem that moves at the speed of business.
- Maintaining reliable, cost-effective Check Services for customers who still need them, while supporting progress toward faster, more secure electronic payment options informed by input from the Federal Reserve Board’s December 2025 request for comment.
As I conclude my time as FRFS’ Chief Payments Executive, I am pleased to pass the reins to Kim Robbins. Kim’s deep experience and commitment to supporting a safe and resilient payment system give me great confidence in the future of FRFS and our partnership with the industry.
Thank you for your collaboration and engagement throughout my tenure. I look forward to watching FRFS and the industry continue working together to advance the modernization of the U.S. payment system and seize the opportunities ahead.
Sincerely,
Mark Gould
Chief Payments Executive, Federal Reserve Financial Services