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BNY Mellon Joins the FedNow® Service, Advancing U.S. Payment System

PR Newswire - Thu Jul 20, 2023

NEW YORK, July 20, 2023 /PRNewswire/ -- BNY Mellon (NYSE: BK) today announced it is now live on the Federal Reserve's new instant payment rail, the FedNow Service, making it one of the first banks to begin sending and receiving payments from participating institutions and support payment activity through settlement or liquidity services. FedNow will operate 24 hours a day, seven days a week, year-round. With the FedNow Service financial institutions will be able to clear and settle payments instantly at any time.

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Provided Content: Content provided by PR Newswire. The Globe and Mail was not involved, and material was not reviewed prior to publication.