Real-Time Payments – A Faster Way to Make Payments

Real-Time Payments are a new type of payment that settle instantly, within 15 seconds from being sent, and offer many advantages over other payment options like ACH or Wire. Learn more about the benefits of using Real-Time Payments and how they can give you transparency and accuracy in final settlements. 

The Business Impact of Real-time Payments (RTP)

Real-Time Payments (RTP) is a new payment method launched by The Clearing House (TCH) that allows consumers and businesses to send and receive immediate payments, 24/7/365, directly from their bank accounts.

Besides the immediate funds availability benefit, RTP provides three beneficial features for both consumers and businesses:

  • Transparency. The ability for the immediate confirmation of the Payment
  • Cash Management. The ability to improve liquidity with immediate deposits
  • Messaging. The ability for consumers, businesses and Financial Institutions to send messages to each other

Real-Time Payment Frequently Asked Questions

While speed is a key benefit, real-time payment confirmation and messaging capabilities also provide the ability to include more information with the transaction, such as extended payment data. RTP also facilitates enhanced messaging between participants such as invoicing (using Request for Payment), user acknowledgement of the payment, and user inquiry about the payment (using Request for Information).

Last minute payment to capture a discount:

  • The customer notices an invoice which has a discount if paid immediately
  • The user logs into online banking and completes the payee name, payee’s bank routing number, payee’s account number, and amount, then clicks the Make Payment button
  • The payment is sent immediately and received by the payee within 15 seconds. A notification to the receivables manager is immediately sent that the payment was received
  Real-Time Payments Same-Day ACH Wire
Typical Funds Availability

Immediate​ During transaction day​ Immediate​
Information Availability

Immediate​ ​End of day ​End of day

24x7x365​ During business hours​ During business hours​

Currently, US based (domestic) credit transactions up to $1,000,000 per item are eligible.

No, the RTP system supports consumer, small business, and commercial transactions.

Ready to Get Started?

Contact your relationship manager, call 1-800-724-2240 or visit your local branch to learn how.

Unless otherwise specified, all advertised offers and terms and conditions of accounts and services are subject to change at any time without notice. After an account is opened or service begins, it is subject to its features, conditions and terms, which are subject to change at any time in accordance with applicable laws and agreements. Please contact an M&T representative for details.
​M&T Bank’s Real-Time Payments (“RTP”) service is provided subject to M&T Bank’s standard Master Treasury Management Services Agreement and Treasury Management Services Product Terms and Conditions for that service.