TD Bank is rolling out Real-Time Payment (RTP®) transactions for consumer, small business and commercial customers, beginning with the ability to receive RTPs of up to $100,000 immediately on any day and at any time.
The RTP® network from The Clearing House is a real-time payments platform that all federally insured U.S. depository institutions are eligible to use for payments innovation. Now, TD customers can receive RTPs from any participating financial institution. At this time, TD Bank account holders cannot send a Real-Time Payment but will have the ability to do so in the near future.
Product Benefits
- Receive funds immediately at any time 24/7, 365
- Enhanced security: secure system for payments and messages; real-time fraud screening
- New messaging and data capabilities: confirmation of payment details and facilitation of dialogue between parties
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Q. What are Real-Time Payments (RTPs)?
A. Real-time payments are electronic payments that can be sent to and from most checking and savings accounts within the United States and provide immediate funds, without delay. TD retail and business account holders currently have the ability to receive real-time payments with a transaction limit of $100,000.
Q. What do I need to do to receive or send a Real-Time Payment?
A. To receive a real-time payment, you will need to provide the sender the routing number and account number for the account where you would like to receive the payment. Your routing number and account number are listed in your online bank account, or you can find them on a check. You should only share your routing number and account number with senders that you know or trust. Visit here to learn more.
There are no fees to receive a real-time payment.
Q: How do I know if I received a Real-Time Payment?
A. Similar to how you view your incoming transactions today, a receipt will be posted on your account statement that reads "Real-time Payment" with the sender's name and message from sender (up to 60 characters; longer messages will be truncated). Your account can be viewed through our Online Banking platform or Mobile App.
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