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Instant Payments

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THE FUTURE OF PAYMENTS IS HERE

Receive your money — instantly — with Real-Time Payments and FedNow

Instant payments are the future, and with UMB, you’re ready. You can receive payments instantly through the Real-Time Payments network (RTP®) and the FedNow network.

RTP and FedNow are new payment methods accelerating cash flow directly between bank accounts and streamlining the payments process. RTP and FedNow are available 24/7/365, so you can receive money in real-time, even on weekends and holidays.

All UMB customers are automatically eligible to receive instant payments with RTP and FedNow for personal, business and commercial banking needs.

What’s next: Send instant payments and more

We’re looking forward to introducing more features going forward, including the ability to send instant payments.

As we continue to add new capabilities, here are a few of the many ways you will be able to take advantage of instant payments:

Personal

  • Instant “cash out” of digital wallets

  • Receive insurance reimbursements

  • Instant “cash out” for certain delivery drivers and shift workers

  • Settle IOUs with friends on the spot

  • Transfer emergency cash to family

  • Pay utility and other bills

Business

  • Confirm customer payments immediately

  • Handle urgent invoices for goods/services

  • Accelerate account reconciliation

  • Communicate with customers using real-time messaging

    How do I receive instant payments with RTP and FedNow?

    All UMB deposit account customers* can receive instant-payment transfers to their UMB accounts. Your account will automatically be enabled for instant payments. There’s nothing you need to do to “turn on” on this feature. When a person or business uses an instant payment method to send money to you, you’ll receive it in your account within seconds.

    * Some exclusions apply. For questions about the RTP or FedNow networks, please contact us at 1.800.860.4862.

    How do I send instant payments with RTP and FedNow?

    The ability to send payments with RTP and FedNow is not currently available. However, UMB is excited to offer you more RTP and FedNow features over time, including the ability to send instant payments.

    How can I learn more about instant payments and why RTP and FedNow were developed?

    To learn more about this exciting payments evolution, read UMB Executive Vice President and Director of Product Management Uma Wilson’s article on instant payments.

    You can also refer to these FAQs provided by The Clearing House and the Federal Reserve.