Announcing 2025 Federal Reserve Financial Services fees and payment system enhancements
November 22, 2024
We realize you have a choice when it comes to your payment services provider. Thank you for the trust you place in us. Working with our customers and industry stakeholders, we take great care in ensuring our products and services meet our customers’ needs and the highest industry standards for performance, resiliency and efficiency.
This past year, we launched our new FedDetect Anomaly Notification for FedACH® Services to help institutions monitor for unusual ACH activity. Additionally, the FedNow® Service has hit a new milestone shortly after reaching its one-year anniversary — there are now more than 1,000 financial institutions, headquartered in all 50 states, participating in the service.
Federal Reserve Financial Services’ (FRFS) plan for 2025 reflects our continued strategic focus of providing secure, best-in-class payment services that are the bedrock of our nation’s economy, benefiting businesses and individuals alike.
FRFS customers can expect the following product and service enhancements:
- Fraud and security: New risk management features will be iteratively rolled out for the FedNow Service to allow greater control over payment thresholds. Additionally, the FedDetect® Duplicate Notification Service was recently expanded to include detection for commercial checks.
- ISO® 20022 adoption for the Fedwire® Funds Service: We are on track to complete the single-day implementation on March 10, 2025, ushering in efficiency for domestic and cross-border transactions and encouraging innovation across the payments landscape.
- Application programming interfaces (APIs): We will continue our API pilot program while preparing for general availability in 2025.
2025 Pricing
To continue providing a level of service that both meets your operational needs and aligns with your evolving business needs, we are adjusting the prices of some services and leaving others unchanged. The impact on your financial institution will depend on your product mix and volume. We look forward to realizing future enhancements to the U.S. payment system alongside our customers.
Below is an overview of 2025 product fee changes and strategic service enhancements. More details on specific changes can be found on the Service Fees pages on FRBservices.org®. All pricing changes will be effective January 1, 2025.
What you can expect in 2025
Pricing that will remain unchanged:
- Accounting Services
- FedCash® Services
- Fedwire Securities Service
- FedNow Service – Note: FRFS will modify the Credit Transfer and Request for Payment fees to exclude “on-us” transactions sent from and received at the same financial institution.
Price increases and product enhancements:
- Check Services: Monthly participation fees, forward and return paper fees, and FedImage® fees will increase.
- FedACH Services: Monthly participation fees, minimum origination and receipt fees, and tiered FedPayments® Reporter fees will increase.
- FedLine® Solutions: The connectivity discount program will continue in 2025 for qualifying institutions that upgrade from FedMail® or FedLine Web® to FedLine Advantage® or establish a new FedLine Advantage connection specifically for the FedNow Service. Package fees for FedLine Command®, FedLine Direct® and FedComplete® Plus will increase.
- Fedwire Funds Service: Participation, per-item gross origination/receipt and import/export fees will increase. A new tiered monthly fixed fee will be added and will be assessed at the parent level to financial institutions that have volume in the Tier 2 or Tier 3 discount product codes.
- National Settlement Service (NSS): Per-file and per-entry fees will increase.
Additional resources
If you have questions about fee changes or how they may affect your institution, please contact your relationship manager or our Support Center for automated access to customer support teams for FedLine Solutions, FedNow Service, FedACH, Check and Fedwire Services. The Federal Reserve Board’s press release (Off-site) and Federal Register Notice outline more detail on the fee changes planned for 2025.