Federal Reserve Board announces pricing, effective January 2, 2024, for payment services the Federal Reserve Banks provide to banks and credit unions, such as the clearing of checks, ACH transactions, and wholesale payment settlement services

The Board of Governors of the Federal Reserve System (FED) has announced on its website and meanwhile published in the Federal Register its 2024 fee schedule for services provided to financial institutions which in this case relates to banks and credit unions only. According to the accompanying statement, the FED has increased fees – on average – by 1.8% based on the newly determined private-sector adjustment factor (PSAF) which was raised from a previous $23.7 million to now $29.2 million. The fees apply to the following services:
– FedLine® Solutions
– Accounting Services
– Check Services
– FedACH® Services
– FedCash® Services
– FedComplete® Packages
– FedNow® Service
– Fedwire® Funds Services
– Fedwire® Securities Services
– National Settlement Service
For a complete, detailed list of all service-related fees, please consult the enclosed document or visit the following website.