Instant Payments

Instant Payments are real-time transfers that allow money to be sent and received 24/7, 365 through FedNow® and The Clearing House’s RTP® network, including nights, weekends, and holidays.

Enrollment is not required to receive payments. When the Instant Payments Send capability is available, enrollment will be required via a Treasury Management Setup Form.

With Axos Bank’s receive-only service, your business can receive incoming Instant Payments from your customers, business partners, or other banks. We plan to introduce send functionality on these networks in a later phase.

Funds from incoming Instant Payments are available immediately upon receipt—even outside of traditional banking hours. Please note that intra-day transactions (including transactions posted on weekends and holidays) will be reflected in a memo post status, but funds availability is updated in real time. 

Instant Payments are irrevocable once sent, which means that they are final and cannot be reversed once initiated by sender and accepted by receiving bank. Like wire transfers, the sender may instruct their bank to send a request for return of funds, but Axos would first ask for your authorization prior to processing the return. We recommend that you verify all details and use controls such as dual approvals, templates, and per-transaction or daily limits to manage risk.

Yes, Both networks impose maximum transaction limits.

• FedNow® - Up to $1,000,000 per transaction (set to increase to $10,000,000 in November 2025).

• RTP® - Up to $10,000,000 per transaction.

You will see the credit reflected in real time in your online banking current day reporting. Full transaction information is available via prior day reporting and monthly statements. Instant Payments received will have the following description: FedNow Incoming Payment, RTP Incoming Payment. Once the transaction is posted to your account, you will see the following info:

• Sender Name (up to 140 characters)

• Free-form Remittance Information (if sent, up to 140 characters)

• Sending Bank Name (up to 140 characters)

• End-to-End ID (35 characters)

For Example:

FedNow Incoming Payment
ABC Company Inc.
Invoice 123456 Paper Stock
Citibank NA
20251104122287251T1B0000000330
32668

Both networks provide real-time clearing and settlement, but they are operated by different entities. FedNow® is operated by the Federal Reserve, and RTP® is operated by the Clearing House. As a client, you don’t need to choose—your account can receive payments from either network.

Note: Not all banks are enabled for Send on both networks, so please work with your sending party to identify preferred network.

Receiving Instant Payments may be subject to fees. Please refer to the Analyzed Commercial Banking & Treasury Management Fee Schedule or contact your relationship manager for details.

• Instant Payments are faster and settle immediately, unlike ACH (same-day or next-day) or wires, which may be subject to delayed availability and cut-off schedules.

• Unlike ACH, Instant Payments are final (no reversal capabilities)

• Unlike wires, Instant Payments are available anytime (no business-day restrictions).