Same-Day ACH vs. FedNow®: Real-Time B2B Payments Without Delays

Improve Cash Flow with Instant Account-to-Account Settlements

Send & Receive Payments Instantly with FedNow® – Faster Than Same-Day ACH

The FedNow® service is redefining the speed of digital payments, offering a faster, more efficient alternative to Same-Day ACH. While Same-Day ACH improves traditional bank transfers, it still has processing windows and banking hour limitations. With FedNow®, businesses and individuals can send and receive payments instantly, 24/7/365—without delays or cut-off times.

Why Choose FedNow® Over Same-Day ACH?

1. Real-Time Payment Processing

• FedNow® settles payments instantly, while Same-Day ACH transactions take hours and only process during banking windows.
• FedNow® is available 24/7/365, even on weekends and holidays—Same-Day ACH is limited to business hours.

2. Faster Cash Flow & Payment Collection

• Businesses get paid instantly, rather than waiting until the end of the day for Same-Day ACH settlements.
• Freelancers and service providers receive funds in real time, eliminating payment delays.

3. No Cutoff Windows or Batch Processing

• Same-Day ACH is processed in batches at set times during banking hours.
• FedNow® processes payments continuously, ensuring immediate transfers anytime.

4. Lower Fees vs. Credit Cards & Faster Than ACH

• Same-Day ACH is cheaper than credit cards but still takes hours to clear.
• FedNow® RTP® (Real-Time Payments) offers a low-cost, immediate alternative for businesses and individuals.

5. Secure, Direct Bank-to-Bank Transfers (A2A)

• FedNow® transactions are instant and final, reducing fraud risks.
• No intermediaries like credit card networks—funds move directly between bank accounts.

Who Benefits from FedNow® Over Same-Day ACH?

• Businesses needing real-time invoice payments.
• Retailers & merchants wanting instant transactions without credit card fees.
• Freelancers & contractors who need immediate access to earnings.
• B2B companies requiring fast supplier payments.

Final Thoughts: Why FedNow® is the Future of Instant Payments

While Same-Day ACH is an improvement over standard ACH, it still operates in banking windows and isn't truly instant. With FedNow®, businesses and individuals can send and receive payments in real-time, 24/7/365—ensuring faster cash flow, secure transactions, and lower fees.

Creation Request for Payment Bank File

Enhance Your Send Receive FedNow Same-Day ACH Payment Requests with FedNow’s ISO 20022 Messaging

Streamline Payments with Advanced Request for Payment Options:

Harness the power of FedNow's Request for Payment system to transform how you manage invoices and remittances. Our platform supports diverse data integration options, allowing payees to incorporate detailed invoice data directly within the RfP message or link to a comprehensive Merchant Page.

Flexible Invoice Details with ISO 20022 Messaging:

Leverage the flexibility of ISO 20022 messaging standards in our RfP system. You can choose to display crucial payment details directly in the message with a concise 140-character description, or through a dynamic "Hyper-Link" leading to a detailed Merchant Page. This Merchant Page can be hosted either on your website or TodayPayments.com/HostedPaymentPage.html through our seamless integration solution.

Customizable Merchant Pages for Enhanced Customer Experience:

Create a Merchant Page that not only details all the MIDs you own but also presents these options attractively to your customers through the RfP. This customization ensures that whether your payer opts for Real-Time Payment, Same-Day ACH, or Card transactions, they can easily navigate and complete their payments through a simple click on the hyperlink provided on your Merchant Page.

Call us today and receive the .csv or .xml FedNow® or Request for Payment (RfP) file you need—all during your very first phone call! We guarantee that our comprehensive reports integrate flawlessly with your bank or credit union. As pioneers in recognizing the benefits of RequestForPayment.com, we have stayed years ahead of our competitors. Although we are not a bank, our role as an "Accounting System" within the Open Banking ecosystem enables us to work with billers to create effective RfP files that seamlessly upload to the biller's online banking platform. U.S. companies rely on our expertise to learn how to deliver the RfP message directly to their bank with precision.

Our advanced solution, Today Payments' ISO 20022 Payment Initiation (PAIN.013), demonstrates how to create a Real-Time Payments Request for Payment file that sends a clear message from the creditor (payee) to its bank. Most financial institutions support the import of messaging and batch files for both FedNow® and Real-Time Payments (RtP), ensuring smooth processing. Once the file is correctly uploaded, the creditor’s bank processes the payment through a secure "Payment Hub"—with The Clearing House serving as the RtP Hub—and relays the message to the debtor's (payer's) bank. This streamlined approach not only accelerates transaction processing but also enhances transparency and reliability for all parties involved.

... easily create Real-Time Payments RfP files. No risk. Test with your bank and delete "test" files before APPROVAL on your Bank's Online Payments Platform. Today Payments is a leader in the evolution of immediate payments. We were years ahead of competitors recognizing the benefits of Same-Day ACH and Real-Time Payments funding. Our business clients receive faster availability of funds on deposited items and instant notification of items presented for deposit all based on real-time activity. Dedicated to providing superior customer service and industry-leading technology.