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Reminder: Product and fee changes for 2023

The recently announced pricing changes for 2023 (Off-site), which take effect today, support Federal Reserve Financial Services’ focus on providing a safe, efficient and faster payment system for you and your customers. To fulfill 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 evolve to meet 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 modestly increased the prices of our products and services 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 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.

2023 fee change overview

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

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

FedLine® Solutions increased fees for FedMail® – FedLine Exchange® Subscribers – Pack of 5 and FedComplete® packages.

Fedwire® Funds Service 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 decreased. There are 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, which will launch mid-year 2023. To support widespread adoption of instant payments, the Federal Reserve is offering key pricing discounts for new FedNow Service 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 Service 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.


If you have any questions about fee changes or how they may affect your institution, please contact your account executive.

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