On February 9, The Clearing House increased the instant transaction limit in the Real-Time Payments (RTP) system from $1 million to $10 million, successfully testing the new capabilities in practice.
BNY Mellon processed the largest instant payment in U.S. history for $10 million following the RTP system’s transaction limit increase. The payment was executed as part of liquidity management between accounts of Computershare, an international transfer agent.
According to the press release, raising the instant payment limit in the Real-Time Payments system offers corporate clients an efficient alternative to traditional bank transfers and checks, while also reducing operational and counterparty risks. Besides, large businesses now get opportunities for cash flow optimization, faster settlements, and improved financial transparency.
Jennifer Barker, Global Head of Treasury Services and Depositary Receipts at BNY Mellon, emphasized that the RTP limit expansion is a key step in modernizing high-value payments, allowing clients to operate more flexibly and manage finances more efficiently. Ann Bowering, CEO of Computershare Issuer Services for North America, added that instant payments help minimize risks and improve capital management efficiency.
In early February, The Clearing House reported that the total number of transactions processed by the Real-Time Payments system exceeded 1 billion. It took 18 months to double the number of processed transactions, while the first 500 million payments were completed over a span of more than five years. As of now, over 285,000 companies use the RTP system monthly to send and receive payments.
Due to the collaboration between Jack Henry and Visa, announced in early February 2025, the infrastructure for instant transfers in North America is now significantly expanded. Regional banks and financial institutions can offer business clients real-time fund transfers at any time of the day.
