News for hackers. Stuff that matters.
Re:FedNow FAQ by rexreed on Thursday August 18, 2022 @01:13PM (#32512349)
It's $25/mo per routing transit number, which means basically per bank or financial institution, since each bank has usually one or a handful of routing numbers, even if they have millions of accounts.

I'd like clarification but from the wording and this release, it seems that it's about $0.05 per transaction and the bank has to pay a $25/mo fee per routing number: https://www.pymnts.com/news/faster-payments/2022/fed-release...

Re:FedNow FAQ by aidenn0 on Thursday August 18, 2022 @01:34PM (#32512590)
Oh, I missed that it was per RTN, and just focused on the "that can receive debits" part; yeah, that's super cheap then, particularly since they don't take a percentage of the transaction value and it has a default maximum transaction limit of $100k.