FedNow instant payments are live

Send and receive money in seconds, any hour of any day, through the FedNow Service. One new payment type, the same API you already use for ACH and wires.

Starting today, every Backspin account can send and receive instant payments over FedNow. Funds settle in seconds, around the clock, including weekends and bank holidays, and you create them with the same payments endpoint you already use for ACH and wires.

Key highlights:

  • One new payment type: Set type: "fednow" on a payment and we handle routing, message formatting and settlement with our bank partners.
  • Reachability checks: Call the new routing number lookup before you send to see whether the receiving bank accepts FedNow, so you can fall back to same day ACH automatically.
  • Request for payment: Ask a counterparty to pay you over FedNow and track the request from sent to paid in a single object.
  • Instant webhooks: Get payment.settled or payment.rejected events within seconds, with the network reason code attached when a payment is refused.

FedNow is available in production and sandbox from today, with per transfer limits you can raise from the dashboard once your program is approved. Read the migration guide to move your existing push payments over in an afternoon.