Q.) What is the Settlement time for a an RTP network transaction?
- End of Banking Day
- Next Day
- Determined by the Sender
- Immediately
A.) Immediately (d)
The Clearing House launched the RTP® network in November 2017 to bring real-time payments to the U.S. Today the RTP network’s real-time payment capabilities are accessible to financial institutions that hold 75% of U.S. demand deposit accounts (DDAs), and the network currently reaches 61% of U.S. DDAs. The RTP network was built for financial institutions of all sizes and serves as a platform for innovation allowing financial institutions to deliver new products and services to their customers. Financial Institutions can integrate into the RTP network directly, through Third-Party Service Providers, Bankers’ Banks and Corporate Credit Unions.
Have a question for TCHPA? Call 800-875-2242 (choose option 3) or email education.services@theclearinghouse.org.
The information contained herein has been prepared for general informational purposes only and is not offered as and does not constitute legal advice. You should consult with your legal counsel regarding the legal, regulatory and payments industry rule requirements that apply to specific transaction scenarios.
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