Announcing 2023 Federal Reserve Financial Services fee changes

November 4, 2022

In 2023, Federal Reserve Financial Services will remain focused on providing a safe, efficient and faster payment system for you and your customers. In support of this mission, we have made strategic investments to modernize our infrastructure and continue to advance payment security and resiliency, as well as our ability to deliver robust products and services. We adjusted our operations support to ensure we continue to exceed your service expectations and to evolve with your business needs in the ever-changing payments landscape.

As a result of these investments, and higher operating costs to manage the payment system infrastructure in our current economic environment, we will modestly increase the prices of our products in 2023. For additional context, the majority of our fees remained flat over the past two years. We remain committed to meeting our obligation of cost recovery across all business lines over the long term.

The following summary highlights the anticipated pricing changes. The impact on your institution’s fees will depend on your product mix and volume. For more specific details, visit the Service Fees page on

2023 fee change overview

Check Services will increase the monthly participation, premium delivery and reject repair fees, as well as fees for FedImage® and paper-based services.

FedACH® Services will increase the monthly participation fee, as well as the fees for several value-add services. The settlement fee will move from a single price point to a tiered structure. In addition, a new high-volume price discount will be introduced for ACH receipt.

FedLine® Solutions will increase fees for FedMail® — FedLine Exchange Subscribers — Pack of 5 and FedComplete® packages.

Fedwire® Funds will increase per-transfer and gross origination and receipt pre-incentive fees, as well as the Off-line Origination and Receipt surcharge.

Fedwire Securities Service transfer fees for agency and U.S. Treasury securities will decrease. There will be two new sets of Automated Claim Adjustment Process (ACAP) fees.

2023 FedNowSM Service fees

The following summary highlights the pricing and incentives for the highly anticipated new FedNow Service.

New for 2023 is the Federal Reserve’s instant payment offering, the FedNow Service, which will launch mid-year 2023. To support widespread adoption of instant payments, the Federal Reserve is offering key pricing discounts for new FedNow customers in 2023. These include waiving the $25 monthly service fee ($300 annual value) and discounting the $0.045 customer credit transfer fee on the first 2,500 customer credit transfers per month (up to $1,350 annual value). Other FedNow pricing fees include a $1.00 Liquidity Management Transfer fee, a $0.01 request for payment fee, and a $0.045 return customer credit transfer fee. Fees for the FedNow Service will commence upon general availability of the service.

Additional resources

If you have any questions about fee changes or how they may affect your institution, please contact your account executive. The Federal Reserve Board’s press release (Off-site) provides an overview of the fee changes planned for next year.

All changes will be effective January 3, 2023.

We value the trust you place in us and our services and look forward to working with you next year.

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