FedNowSM Service Video Series

Learn How to Navigate Instant Payments.

Prepare your financial institution to participate in FedNowSM, the Federal Reserve’s new instant payments network. This series of videos explains what faster payment networks are and how they work, describes which types of faster payments will be available with the FedNowSM service, and outlines key steps your organization should take to get ready.

For best results, we recommend watching the videos in order.

1. Faster Payments Basics

Learn the basics about the different payment channels, including The Clearing House Real-Time Payments (RTP®) Network and the Federal Reserve FedNowSM Service.

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2. FedNowSM Introduction

This video provides a brief introduction to the FedNowSM Know Now video course.

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3. What Is FedNowSM?

Start your FedNowSM journey with an introduction to the FedNowSM Service.

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4. What Will Be Included in the FedNowSM Launch?

Discover the features and functionality that will be available at the initial FedNowSM Service launch.

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5. How Do You Access FedNowSM?

Learn how different entities can gain access to the FedNowSM Service.

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6. What Types of Faster Payments Will Be Available With FedNowSM?

Review the payment types and use cases that the FedNowSM Service solves.

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7. How Does a Faster Payment Work?

Watch this video to understand how the credit push-only FedNowSM Service payment process functions.

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8. How Will FedNowSM Payments Flow?

Learn about the transfer of funds versus a transfer of information, and who is responsible at each step in the process.

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9. What Does FedNowSM Mean to Faster Payments?

Explore what the FedNowSM Service means to the industry and how it compares to other payment channels.

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10. What Is the Difference Between Open and Closed Systems?

Watch this video to understand the differences between a closed-loop and open-loop system, how they work, and what kind of system the FedNowSM Service network will be.

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11. What Is the Difference Between Deferred and Real-Time Settlement?

Learn the differences between deferred and real-time settlement, and find out which one the FedNowSM Service will use.

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12. What Are the Benefits of FedNowSM for Consumers?

Review the use cases for consumers and how they will benefit from having access to the FedNowSM Service.

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13. What Are the Benefits of FedNowSM for Businesses?

Review the use cases for businesses and how they will benefit from having access to the FedNowSM Service.

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14. Why Did the Fed Create FedNowSM?

Learn why the Federal Reserve built the FedNowSM Service network when other faster payment and real-time payment options already exist.

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15. What Does the Banking Industry Want from FedNowSM?

Watch this video to learn about additional features financial institutions want and review industry requests and comments provided to the Fed.

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16. Funds Availability, Bill Pay, and Fraud

Find out when and how financial institutions will be required to make funds available, how businesses can collect bills and invoices, and what the Fed’s plans are regarding fraud and the FedNowSM Service.

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17. Now What Is FedNowSM?

Get guidance on how to discuss the FedNowSM Service with your financial institution’s staff, senior management, board members, and account holders.

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18. FedNowSM Final Review

Test your knowledge of the FedNowSM Service. Access this workbook to get started.

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19. FedNowSM Know Now Graduation

Complete a final review of the FedNowSM Service.

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20. BONUS: FedNowSM Preparing Top 5

Review the top 5 things your financial institution needs to do to prepare for the FedNowSM Service.

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Contact ACBB to customize a instant payment solution that meets your needs, timeline, and budget.

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