The Federal Reserve Board on Thursday announced pricing, effective January 1, 2027, for the payment services the Federal Reserve Banks provide to banks and credit unions, including check clearing, automated clearing house transactions, instant payments, and wholesale payment and settlement services. The Board said it expects to recover 101.5 percent of actual and imputed expenses in 2027, including the return on equity a private sector provider would have earned, and that the changes amount to an estimated 1.4 percent average price increase for established, mature services.
The Reserve Banks also announced changes to streamline their check services, including optimised processing windows during low volume periods and higher fees for banks and credit unions that process checks with them. The Board said check volumes continue to decline but checks remain an important payment instrument for many consumers and businesses, and that the changes do not affect consumers’ and businesses’ ability to pay with or receive checks.