We’re excited to introduce a faster, easier way to move your money: Instant Payments is now available in Grow Online and Mobile Banking.^1,2 Whether you’re sending or receiving, your money moves in seconds, not days. No more waiting around for transfers to clear.

This new feature, powered by the Federal Reserve’s FedNow^® Service and The Clearing House’s Real-Time Payments (RTP^®) network, gives you 24/7 access to secure and convenient real-time money movement.

What are Instant Payments?

Instant Payments are transfers that happen in seconds. Unlike traditional Automated Clearing House (ACH) transfers, which can take one to three business days, or wire transfers, which are limited to business hours and often come with higher fees, Instant Payments are available 24/7, 365 days a year.

To send or receive instant payments, the other financial institution must participate in the FedNow^®or RTP^® network. You can check participation here: FedNow^® participants | RTP^® network

Send and receive money instantly

When someone sends money to your Grow account from a participating bank or credit union, the funds will appear immediately — ready to use whenever you need them. Plus, if you need to move money from your Grow account to one of your accounts at another bank or credit union, you can do that in just seconds.

With Instant Payments at Grow, you can:

• Send money to your accounts at other banks or credit unions
• Receive money into your Grow account
• Move money faster between your accounts — no more waiting days for ACH or paying wire fees
• Pay your Grow loan faster by sending money instantly to your Grow account, then transferring it to your loan in online banking

Instant Payments are not the same as peer-to-peer services, such as Zelle^® or Venmo^®, which enable anyone to send money using only a phone number or email address to authenticate. Instant Payments allow you to move money securely between accounts, called account-to-account (A2A) transfers.

Here’s how Instant Payments compare to other types of transfers:

Feature	Instant Payments	ACH Transfers	Wire Transfers
Speed	Seconds	1–3 business days	Same day, typically (business hours)
Cost (receiving)	None	None	None
Cost (sending)	0.5% (up to $15)	None	$20–45
Availability	24/7/365	Business days only	Business days only

Reminder: Choose the correct account number format.

For Instant Payments to work successfully, make sure you’re using the correct account number format, which is labeled Checking Account Number for Electronic Transactions.

Here’s how to find your account number:

• In the Grow Mobile Banking app, select your checking account, then tap Show Details in the top right corner.
• In Grow Online Banking, select your checking account, then click Account Details.

We’re always working to enhance your digital banking experience with better financial tools that help you manage your money, your way. Questions? Contact our team.

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• General Education