FedNow Service vs RTP network: what is the difference?
Both are US instant payment systems that run 24/7. FedNow is run by the Federal Reserve; the RTP network is run by The Clearing House, a bank-owned company. A bank can join one, both or neither.
| FedNow Service | RTP network | |
|---|---|---|
| In one line | The FedNow Service is the Federal Reserve's instant payment system, which lets participating US banks and credit unions send and receive payments in real time, 24 hours a day, every day of the year. Recipients get full access to the funds immediately. | The RTP network is The Clearing House's real-time payment system in the US, used by financial institutions to send and receive instant payments of up to $10 million, 24/7/365. Settlement is final at any time of day. |
| Read more | FedNow Service | RTP network |
How they work together
For a payment company the question is which rails its banks and partners reach, because that decides how fast a top-up can land.
Where Polynopsis fits
Polynopsis keeps the position live across banks, payout partners and wallets, so instant dollar movements show up in the day's position as they happen.
Polynopsis keeps the position live across banks, payout partners and wallets, so instant dollar movements show up in the day's position as they happen.
Frequently asked questions
What is the difference between fednow service and rtp network?
Both are US instant payment systems that run 24/7. FedNow is run by the Federal Reserve; the RTP network is run by The Clearing House, a bank-owned company. A bank can join one, both or neither.
What is FedNow Service?
The FedNow Service is the Federal Reserve's instant payment system, which lets participating US banks and credit unions send and receive payments in real time, 24 hours a day, every day of the year. Recipients get full access to the funds immediately.
What is RTP network?
The RTP network is The Clearing House's real-time payment system in the US, used by financial institutions to send and receive instant payments of up to $10 million, 24/7/365. Settlement is final at any time of day.
Sources
- Federal Reserve announces that its new system for instant payments, the FedNow Service, is now live (20 July 2023) · Board of Governors of the Federal Reserve System
- About the FedNow Service · Federal Reserve Financial Services
- FedNow Service volume and value statistics · Federal Reserve Financial Services
- Customer credit transfer and liquidity management transfer network limit increases (12 November 2025) · Federal Reserve Financial Services
- Announcing 2026 Federal Reserve Financial Services fees and payment system enhancements (4 December 2025) · Federal Reserve Financial Services
- Federal Reserve action to expand Fedwire Funds Service and National Settlement Service operating hours (Federal Register notice, October 2025) · Board of Governors of the Federal Reserve System
- Real Time Payments · The Clearing House
- RTP network volume and value statistics · The Clearing House
Know where all your money is.
Polynopsis gives cross-border payment teams one live position across every bank, payout partner, exchange and wallet, including money in flight, and warns before a corridor runs dry.
About Polynopsis
Polynopsis is liquidity management software for cross-border payment companies. The name joins poly, many, and synopsis, a seeing together: one live view of money spread across many banks, payout partners, exchanges and stablecoin wallets, including money in flight, with a warning before any corridor runs dry.
Why it is called Polynopsis · About Polynopsis · Glossary · Corridor runway calculator