Top nine questions about the FedNowSM Service

October 14, 2020

Since announcing the FedNow Service’s features and functionality, the Federal Reserve has received a lot of interest as well as questions from customers and stakeholders about various aspects of the service.

Through communications and conversations, we want to keep financial institutions and the broader payment industry informed on the design of the FedNow Service and how to prepare for it. Here are some of the most common questions we’ve received.

For more information on the FedNow Service, including a description of the payment flow and additional resources, visit the About FedNow Service page.

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