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Federal Reserve Bank of Richmond

Payment Services

We help keep the nation's payments systems running safely and efficiently, and we distribute cash and coin fit for circulation to financial institutions.

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Featured

News
Volume Surges as FedNow® Usage Accelerates
July 20, 2026

The FedNow Service built extraordinary momentum in the second quarter of 2026, with volume increasing more than 80% from Q1 to Q2 and billions of dollars moving across the network every day. 

Article
Researching Payments System Changes
Econ Focus
Third Quarter 2026

By Charles Gerena

The Fed has supported the nation's payments system by providing services directly, implementing regulations, and convening industry stakeholders to meet the evolving needs of businesses and consumers.

Supporting U.S. Currency and Financial Transactions

Along with the other Reserve Banks, the Richmond Fed provides a variety of payments services to financial institutions and the federal government.
Cash
The Richmond Fed provides currency and coin services to financial institutions in the Fifth District. It also works to uphold the integrity of U.S. currency and the public’s confidence in it.
Automated Clearing House
As the nation's largest national ACH operator, the Reserve Banks process batches of electronic funds transfers between financial institutions.
Funds Transfer and Settlement
The Reserve Banks offer automated funds transfer and settlement services to financial institutions and others with a master account at the Fed.
U.S. Treasury Payments and Collections
The Richmond Fed manages a variety of applications that support the U.S. Treasury Department and other federal agencies.
Checks
The Fed provides check collection services to financial institutions and works with customers to improve check processing nationwide.


Federal Reserve Payments Research

Federal Reserve Triennial Payments Study

The Federal Reserve Payments Study (FRPS) is an ongoing effort to estimate aggregate trends in noncash payments in the United States, offering a periodic benchmark of developments in the U.S. payments system to policymakers, the industry, and the public.

Board of Governors Payment Systems

The Federal Reserve has developed a round-the-clock payment and settlement service, called the FedNow Service, to support instant payments in the United States.



Additional Resources