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RTP Use Cases




The payment process when buying a home involves dozens of payments, both large and small, and can be delayed due to the limitations of checks and banking hours that do not match the needs of the buyers and sellers.


Real-time payments over the RTP® network allow  payments for title insurance, mortgages, agent commissions, inspection fees and more to be settled with finality seconds after the payment is initiated, removing potential fraud, streamlining the real-estate closing process, and increasing satisfaction for everyone involved in the transaction.

There are numerous payments in a typical real-estate transaction, including closing costs, agent commissions, title insurance fees, and inspection costs. The typical payment type when buying or selling a home is a check, wire transfer, or an ACH transaction, although ACH transactions are not allowed in many states due to local “good funds” rules. Although these payments are common, there are risks and restrictions. A bank or cashier’s check needs to be obtained during business hours. A wire transfer or ACH payment can be subject to fraud or even simple user error, and has cut-off times due to the operating hours of the payments networks. ACH and wire payments also are not available on weekends, when some closings occur, or holidays. Real-time payments over the RTP® network remove these potential payment frictions and allow for a more seamless real-estate transaction. 

For instance, EMTransfer, a retail banking service that allows users to transfer funds between accounts, has adopted real-time payments on the RTP® network to remove friction during the real estate payment process. EMTransfer Partners with Key Bank to make this process ideal for any user. 
With real-time payments over the RTP® network, buyers of real estate can pay the second the papers are signed, delivering funds instantly. The result is a smoother sales process that removes uncertainty over potential fraud and gets funds to all parties in the real estate process instantly.