Receive payments instantly, no matter the time or day. BankNewport offers instant payment transactions to both personal and business banking customers.
The RTP® network from The Clearing House (TCH) is a platform that all federally insured U.S. depository institutions are eligible to use.
FedNow® is a new service for instant payments built by the Federal Reserve to help make everyday payments fast and convenient.
Instant Payment Features
- Receive funds of up to $500,000 with FedNow® or $1,000,000 with RTP® instantly at any time, any day
- Access through BankNewport online or mobile banking
- Enhanced security for payments and messages
- Real-time fraud screening
- Payment detail confirmations
- Facilitation of dialogue between parties
Instant Payment FAQs
What is an instant payment?
Instant payments are an electronic payment method for sending instantaneous payments to and from most checking and savings accounts throughout the U.S.
Is there a transaction limit?
Yes. The RTP® network transaction limit is $1,000,000 dollars. The FedNow® transaction limit is $500,000.
How do I receive an instant payment?
If you’d like to receive an instant payment, provide your sender the routing number and account number of whichever account you’d like their payment sent to. Only share this information with senders you know or trust.
Please note: your routing and account numbers are available within your digital banking account. You can also find them at the bottom of your checks.
What happens when I receive an instant payment?
A receipt that reads, “instant payment,” will be posted on your account statement with applicable account details. You can view your account through the mobile app or digital banking.
Is there a fee?
There are no fees associated with the receipt of an instant payment.
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