Payment systems, side by side.
The same questions answered for every scheme: does it settle gross or net, how fast is it final, how are accounts addressed, and which message standard carries it? Pick two to four and compare. Every value cites its official source; nothing volatile is stated.
PICK 2–4 SCHEMES
| Dimension | FedNowflowcard | RTPflowcard | Fedwire Fundsflowcard |
|---|---|---|---|
| Operator | Federal Reserve | The Clearing House | Federal Reserve |
| Region | United States | United States | United States |
| Settlement model | Gross (one by one) | Gross (one by one) | Gross (one by one) |
| How it settles | Each payment settles individually in central-bank money. | Settles individually against prefunded balances. | Real-time gross settlement in central-bank money. |
| Speed | Seconds, 24/7/365 | Seconds, 24/7/365 | Real-time, business hours |
| Finality | Immediate and irrevocable | Immediate and irrevocable | Immediate and irrevocable |
| Addressing | Account number | Account number | Account / ABA routing |
| Message standard | ISO 20022 | ISO 20022 | Fedwire format (ISO 20022 migration underway) |
| Source | FedNow Service | RTP (Real-Time Payments) Network | Fedwire Funds Service |
A teaching comparison of headline mechanics, not a specification. Limits, operating windows, and fees vary and change — check each scheme’s official source before you rely on a detail.