RTP
Real-Time Payments
RTP is a U.S. real-time payments network that allows immediate, credit-push transfers between participating banks. Unlike ACH, transactions are irrevocable once sent and are available to the recipient almost instantly.
The RTP network is operated by The Clearing House and runs 24/7/365, similar to FedNow. It supports payment messaging features like request for payment and rich remittance data.
Related Terms
FedNow
FedNow is a real-time payment service operated by the Federal Reserve that enables instant credit tr...
ACH
Automated Clearing House
ACH is an electronic network for financial transactions in the United States. It processes large vol...
Wire Transfer
A wire transfer is an electronic transfer of funds between banks or financial institutions. Wire tra...
RTGS
Real-Time Gross Settlement
RTGS is a funds transfer system where money moves from one bank to another on a real-time and gross ...
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