FedNow is a payment channel that launched in July 2023 by the Federal Reserve system to facilitate secure real-time funds transfers between financial institutions in the United States. It operates similarly to interbank check, ACH, and Wire transfer systems that process tens of millions of payments each day.
Tri Counties Bank is part of the FedNow network and accepts incoming FedNow funds transfers from other network financial institutions. Tri Counties Bank business and consumer customers can receive instant payments to checking, savings and money market accounts through this network when selected by the payment originator.
FedNow facilitates more secure, efficient, timely and reliable funds transfer services, benefiting both consumers and businesses.