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FedNow Aimed At Transforming The US Payment System Approved By The Board Of Governors Of The Federal

edited August 9 in The OT Bullpen
Hopefully this means the Fed/Treasury will soon be able to start dropping helicopter money directly into my living room (or at least directly into my checking account) image .
If FedNow were operational, would stimulus checks have reached its recipients faster? Paper checks and associated costs may become a thing of the past.

Through this core infrastructure, ordinary people and small businesses will be able to do near real-time payments. Today, this is possible only using cash.

The press release claims that it will take only seconds to effect a normal transfer.

The dollar cap for transfer through the system is $25,000. A cap that could be re-examined as the system is deployed and matures.
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