The Federal Reserve Banks offer a wide range of payment services to banks and other depository institutions. These services include distributing and receiving the nation's currency and coin, collecting checks, and electronically transferring funds among banks, such as through Fedwire, the automated clearinghouse, and the FedNow Service. The Federal Reserve charges for many of these payment services; the pricing is carried out according to federal statute and Federal Reserve Board policies.

The Federal Reserve in the Payments System
This policy sets forth the rationale for the Federal Reserve System's participation in the payment mechanism, describes the System's procedures for evaluating Federal Reserve priced services to depository institutions, and states the System's objectives for the pricing of such services.

Statutory Authority for Services Pricing Policy
Sections of the Federal Reserve Act relating to the pricing of services, as amended by the Monetary Control Act of 1980.

Principles for the Pricing of Federal Reserve Bank Services
Principles for Reserve Banks in pricing their payment services, as required by the Monetary Control Act.

Federal Reserve System Guidelines for the Provision of Financial Services
This policy elaborates on the pricing principles for the Reserve Banks.

Standards Related to Priced-Service Activities of the Federal Reserve Banks
This policy outlines safeguards for avoiding internal conflicts of interest between the exercise of the System's responsibilities for providing priced services to depository institutions and the carrying out of its other responsibilities.

Fee Schedules for Federal Reserve Bank Payment Services
Notice of Board approval of the 2024 private sector adjustment factor (PSAF) and fee schedules for Federal Reserve priced services and electronic access.

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Last Update: November 17, 2023