The Federal Reserve Banks are pleased to confirm that, in 2021, Federal Reserve Financial Services fees will remain flat with the exception of the monthly Check Services Participation Fee. The Board of Governors announced its intent to keep price changes minimal in a July 21 press release (Off-site). This approach recognizes the uncertainties created by the COVID-19 pandemic, and the difficulty in applying standard forecasting tools in this environment. We will continue to make investments in our products and services to help maintain the security and resiliency of the payment system.
An overview of 2021 product and fee changes is provided below. The impact on your institution will depend on your product mix and volume. Details on the specific changes can be found on the Service Fees page and in the 2021 pricing announcement letter.
Services with fees remaining unchanged in 2021:
- Accounting Services
- FedACH® Services
- FedCash® Services
- FedComplete® Packages
- FedLine® Solutions
- Fedwire® Funds Service
- Fedwire Securities Service*
- National Settlement Service
*While there are no price changes planned for the Fedwire Securities Service, any changes to Online and Offline Treasury transfers fees are set by the U.S. Department of the Treasury and will be announced once finalized.
Services with fee changes in 2021:
- Check Services**
**To address the cost of maintaining our Check Services infrastructure as check volume continues to decline, the monthly Participation Fee will increase.
Questions?
If you have any questions about product and 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 4, 2021.
We value the trust you place in us and our services and look forward to working with you in 2021.
