We are excited to announce we are now live through Corporate One on the receive-only side of the RTP® network. Get in the queue today to connect your credit union to the RTP payment rail.
What is RTP®?
Created by The Clearing House in 2017, RTP® is a fast, efficient, and secure payment rail that allows those connected to push funds up to $1 million in real time, 24/7/365. Payments are instantly received, confirmed, and settled. RTP is available to all insured U.S. depository institutions.
Currently, the RTP network contains more than 350 financial institutions and reaches 65% of U.S. demand deposit accounts. The network is quickly increasing in popularity.
What are some benefits of receiving RTP® payments?
- Payments occur instantly 24/7/365, and the funds are available immediately.
- Credit unions can satisfy member demand and gain a competitive advantage.
- All payments are final and instantly settled.
- RTP payments do not need to be manually verified and settled.
At this time, we are only offering to receive payments via RTP®. After the credit union’s RTP® receiving capabilities are set up, it may take some time before vendors notice the credit union was added to the directory and initiate a payment via the RTP® rail. This ‘activation time’ varies by vendor and unfortunately is out of the CUSO’s, credit union’s, and member’s hands.