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How can a consumer actually try this to send money? This says Wells Fargo is live now but after logging into Wells Fargo I don't see any obvious new feature.
by thomas_ma 3y ago
How can a consumer actually try this to send money? This says Wells Fargo is live now but after logging into Wells Fargo I don't see any obvious new feature.
- jabroni_salad 3y agoThink of it more as an alternative method to fulfill the kinds of things that ACH and Wire Transfers are used for. You'll probably never see 'this is a fednow function' on any consumer facing documentation, but billpay, payroll etc will use it.
- ianburrell 3y agoI'm assuming that banks and payment services will add it to their services. Everything that goes over ACH will gradually switch to FedNow. There will be no noticeable difference to users except that transfer will be instantaneous instead of taking days.
- deleted 3y ago[deleted]
- deleted 3y ago[deleted]
- ellisv 3y agoThere's no new feature. It's an old feature (transferring money) but faster.
- isignal 3y agoIt is live on star one credit Unions mobile app. On their interface, it still requires you to specify the target’s routing and ac number like an ACH transaction. So not the most usable now.