Pricing & Set-up
Treasury Sales must ensure that this document is updated, or an amendment to the document signed, prior to setting up an immediate payments customer.
What is the TMSA?
This immediate payments use case can come in handy if a payroll file is not approved on time.
What is emergency payroll?
RTP is a common acronym for this payment type.
What is a Real Time Payment?
Our business customers will access immediate payments through this.
What is BBO Treasury?
If my customer sends just one immediate payment it counts towards this goal.
What is payments goal?
For this customer type the incoming immediate payment fee is $.20.
What is a commercial/business customer?
This daily allowance that employers often offer travelling employees can be paid instantly through immediate payments.
What is per diem?
The Federal Reserve has a new payment rail referred to as this.
What is FedNow Instant Payments?
This can be used to walk a customer through the process of setting up an immediate payment.
What is the helpful hint card?
If a customer sends, authorizes and approves a final and irrevocable immediate payment to a fraudster based on fraudulent payment instructions, it is often refer to as this.
What is authorized fraud?
This type of immediate payment customer uses an OTP to approve a payment.
What is a single user?
Often restaurants are required to have this for alcohol deliveries, a process which could be enhanced by immediate payments.
What is COD or Cash On Delivery?
The newer rail, FedNow Instant Payments, has a lower transaction limit maxing out at this number.
What is $500,000?
This will happen when a client attempts to send an immediate payment to a financial institution that is not connected to either rail.
What is an error message?
In a future not so far away a business will be able to request another party pay them and provide payment instructions through this process.
What is RFP or Request for Payment?
For ACH this is $50, but for IMP this is $0.
What is set up fee OR monthly fee?
Due to a law in Indiana requiring a wire, this type of transaction can not currently be settled with an immediate payment?
What is a real estate transaction?
The Clearing House (TCH) has been processing faster payments since this year.
What is 2017?
The recipient of the payment is known is this in the immediate payments system.
What is a contact?
An international standard that will regulate the format of data that can be passed along the rails with or without a payment.
What is ISO20022?
When setting a customer's immediate payment limit it does not require unsecured lending authority because transactions are individually approved by checking this.
What is available balance?
A popular immediate payments use case referring to a company transferring funds to the same or related entity at another financial institution.
What is intercompany transfer or cash concentration?
This entity is owned by some of the United States' largest financial institutions and owns the RTP payment rail.
What is The Clearing House?
The idea of allowing the customer to choose the speed and cost of a payment, rather than the rail, is referred to as this.
What is smart routing?
Sales is working on a project to actively contact these clients to reset immediate payments limits?
What are pilot customers?