A federally operated instant payment rail

Cross River is an early adopter of FedNow®, an instant payment rail operated by the Federal Reserve.

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FedNow® benefits to your payments strategy


Real-time processing for payment transactions, anytime, anywhere across the US.

Instant notifications

With FedNow®, users receive real-time confirmations for all real-time transactions.

Expanding access to faster payments

FedNow® creates a bigger opportunity for reach and adoption, benefiting untapped consumers and businesses.

Uses for FedNow®


Business-to-business payments

E- commerce payments

Expense reimbursements

Insurance payouts



Does FedNow® have any transaction limits?
Yes, FedNow® will launch with a credit transaction limit of $500,000.

Is FedNow® replacing RTP®?
FedNow® and RTP® are operated by two distinct entities and are not meant to replace on another, but rather, provide customers with more options to transact instantly.

How does settlement differ between FedNow® and RTP®?
While both payment rails settle funds instantly at accounts held at the Fed, FedNow® transactions settle in the debtor's and creditor's master account, while funds sent via RTP® settle between the debtor's and creditor's positions in a separate join account.