Introducing FedNow^® Service

Receive money instantly with FedNow Service

At Telco, we’re always looking for smarter ways to help you manage your money — and now you have access to instant payments any time of day or night, every day of the year. 

FedNow Service is the Federal Reserve’s instant payment platform, providing access to safe and efficient instant payment services in real time, 24 hours a day.

What are FedNow payments?

FedNow is a payment service developed by the Federal Reserve that enables financial institutions to transfer money instantly between accounts. Unlike traditional transfers that may take a day or more, FedNow payments are processed within seconds—24/7/365.¹

• Payments settle in real time — typically within seconds. 
• It’s available 24/7/365, including nights, weekends, and holidays. 
• Funds are immediately accessible the moment they arrive. This service isn’t replacing familiar options like ACH or Zelle — it’s a new layer of capability that gives you faster access to your money when you need it most. 

At this time, Telco members can receive funds through the FedNow Service—but cannot yet send money using it. If someone (like an employer, business, or friend) sends money using FedNow from their financial institution, the funds appear in your Telco account immediately.²

How it Works

The sender’s financial institution must use FedNow
For an instant payment to happen, both the sending and receiving financial institutions must be part of the FedNow network and choose to send money via the service.

Share Your Account Details
Give the sender Telco's routing number and your full account number. You can find your account number by logging into online banking and selecting the account where you want the money deposited.

Payment Sent
The sender’s bank initiates the payment through FedNow. Because Telco is on the network, we receive the funds instantly—any time, day or night.

You Get Paid Instantly
Once sent, the money is available in your Telco account within seconds—no waiting for business days or clearing times.

Frequently Asked Questions

What is Fed Now?

FedNow is a real-time payment service from the Federal Reserve that allows participating financial institutions to send and receive money instantly—24 hours a day, 7 days a week, 365 days a year.

Can I use FedNow at Telco?

Yes! At this time, Telco members can receive instant payments through FedNow from other financial institutions that support the service. 
To receive a FedNow payment, provide the sender with: Telco's routing number and your full account number. If the sender’s financial institution supports FedNow and chooses to send the payment that way, the funds will arrive in your account within seconds.

Is there a fee to receive FedNow payments?

No, Telco does not charge members to receive funds through the FedNow Service.

Is it safe to receive payments through FedNow?

Yes. The FedNow Service is operated by the Federal Reserve and built with security and reliability in mind. Transactions are encrypted and processed instantly.

Is FedNow the same as Zelle® or ACH?

No. While Zelle and ACH are common ways to send money, they aren’t instant in the same way FedNow is. ACH transfers can take 1–3 business days, while FedNow delivers money in real time—within seconds.

How is this different from PayPal, Zelle®, Apple Pay®, or other payment apps?

PayPal, Zelle, and Apple Pay® are separate apps and services. FedNow is a built-in bank-to-bank payment network that moves money instantly—24/7/365—without needing a separate app. It’s secure, always on, and designed for everything from paychecks to insurance disbursements.