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I am so sick of the hassle of Zelle, Venmo, ACH, Cash App, Wires and "bill pay". Where there is no limit, there is a fee. Where there is no fee, there is a multi-day delay.

According to the news FedNow is live with my bank, Chase, and my wife's bank, Wells Fargo.

So how do I actually go about sending her money using FedNow if both of our banks are supposedly enrolled?

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    Despite all the hype, FedNow is nothing new, it's just backed by the Fed. It's basically the same as The Clearing House's RTP network, which has been around since 2017.
    – user71659
    Commented Aug 14, 2023 at 0:32

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Ask your banks. The press release as paraphrased at https://www.ktre.com/2023/07/20/your-paycheck-could-clear-faster-now-that-fednow-instant-payment-service-banks-has-launched/ says

FedNow is now live but it might take months or years for customers to be able to use this service, it all depends on when your bank makes it available.

Saying the bank is participating does not necessarily mean it's generally available to consumers; they might be doing a staged roll-out, or might be starting with payrolls and adding non-business accounts later.

Also from that page, and presumably quoted from the press release:

WILL FEDNOW REPLACE VENMO, PAYPAY OR OTHER SERVICES?

There are key differences between the FedNow service and apps such as Venmo and PayPal. FedNow is a service offered directly to banks and not to customers, which means FedNow does not have an app or website where customers will be able to send money to each other.

WHAT IS THE DIFFERENCE BETWEEN FEDNOW AND ZELLE?

While both FedNow and Zelle allow customers to make online transactions, there are some key differences. Zelle is a private app that works with some financial institutions while FedNow is backed by the Federal Reserve and is envisioned to be adopted by the majority of banks in the country.

Zelle lets you send and receive money instantly but the money might not be available for customers until days after the transaction. With FedNow, the Fed says the money will be available within minutes. Zelle has a customer-facing platform that allows customers to send money through their app while FedNow will not directly interact with customers but rather offer the services to banks.

So... Ask your bank when, and how, they will expose the service. "There are key differences between the FedNow service and apps such as Venmo and PayPal. FedNow is a service offered directly to banks and not to customers, which means FedNow does not have an app or website where customers will be able to send money to each other."

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I think Fednow is part of the Fed's answer to SEPA in the EU. SEPA has been very successful. I'm not sure what it will take to develop similar functionality in the US, but it's sorely needed.

As far as I know, as of September, 2023, no US bank or fintech is exposing Fednow functionality to the consumer.

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