Payments News


The Fed Plans To Raise Payment-Services Fees by an Average of 2.4% in 2020

“Prices for Federal Reserve payment services to depository financial institutions will go up by an average of 2.4% on Jan. 2 under a new fee schedule approved last week by the Federal Reserve Board of Governors. The Fed estimates Check Services customers will see average price increases of 3.3%. Users of the Fedwire Funds Service will pay 3.7% more, while FedLine Solutions customers can expect to pay an average of 2.9% more. Fees will remain unchanged for the FedACH [automated clearing house] Service, National Settlement Service, and Fedwire Securities Service.”