Federal Reserve Instant Payment Service

The Federal Reserve Instant Payment Service (IPS) is a real-time payment system that allows banks and financial institutions to transfer funds instantly, any time of day or night. This means when you send money, the recipient gets it immediately, improving convenience and cash flow. IPS aims to enhance the speed, security, and efficiency of digital payments across the U.S. financial system, supporting faster transactions for businesses and consumers alike. It operates as part of the Federal Reserve's efforts to modernize payment infrastructure and ensure reliable, instant transfers in a secure environment.