Terms of Service

By accessing or using the FedWire RTGS payment portal (“Service”), you agree to be bound by these Terms of Service and all applicable federal banking regulations, including Federal Reserve Operating Circular 6.

If you are using the Service on behalf of an organization, you represent that you have the authority to bind that organization to these terms.

To use FedWire RTGS, you must be:

• A federally insured depository institution
• A U.S. branch or agency of a foreign bank
• An Edge or Agreement corporation
• A government agency or instrumentality
• Another entity approved by the Federal Reserve

All participants must maintain active Federal Reserve master accounts and comply with KYC/AML requirements.

You are responsible for:

• Maintaining the confidentiality of login credentials
• Enabling multi-factor authentication (MFA) on all accounts
• Immediately notifying us of unauthorized access
• Ensuring only authorized personnel access the system
• Complying with your institution's internal security policies

You are liable for all transactions executed under your credentials unless you can demonstrate unauthorized access occurred due to our security failure.

Irrevocability: All wire transfers are irrevocable and final upon execution. Once a transaction is submitted, it cannot be cancelled or modified.

Operating Hours: FedWire operates Monday-Friday, 9:00 PM ET (previous day) to 7:00 PM ET, excluding Federal Reserve holidays.

Cut-off Times: Third-party transfers must be submitted by 6:00 PM ET. Transfers to the U.S. Treasury have earlier deadlines.

Settlement: All transactions settle in real-time with immediate finality via Reserve account debit/credit.

Daily Limits: Transaction limits are established based on your institution's reserve balance and Federal Reserve-approved thresholds.

FedWire charges apply per Operating Circular 6:

• Online Transfer: $0.80 per transaction
• Offline Transfer: $5.65 per transaction
• Surcharge (over threshold): Additional fees apply for high-volume participants
• Monthly Account Fee: $80 per master account

Fees are subject to change with 90 days written notice.

You agree to:

• Comply with all AML/KYC requirements under the Bank Secrecy Act
• File SARs (Suspicious Activity Reports) as required by FinCEN
• Maintain transaction records for 7 years per SOX requirements
• Submit reserve reporting (FR 2900) on schedule
• Cooperate with Federal Reserve examinations and audits
• Immediately report data breaches affecting customer information

The Federal Reserve is not liable for losses resulting from unauthorized access, transmission errors, system failures, or force majeure events, except to the extent of gross negligence or willful misconduct.

You agree to indemnify the Federal Reserve for losses arising from your violation of these terms, applicable law, or third-party rights.

Maximum Liability: Liability is limited to direct damages not exceeding the fees paid in the 12 months preceding the claim.

We may suspend or terminate your access immediately if:

• You violate these terms or operating circulars
• Your reserve account is closed or suspended
• Regulatory action requires termination
• Fraudulent activity is detected
• You fail to maintain required insurance or capital ratios

Upon termination, all pending transactions will be completed, but new transfers will be blocked.

Disputes must be reported within 30 days of the transaction date. Contact our dispute resolution team at disputes@fedwire-rtgs.gov.

Given the irrevocable nature of wire transfers, disputes are typically limited to cases of system error, unauthorized access, or duplicate processing.

Unresolved disputes shall be governed by Federal Reserve regulations and federal law, with venue in the U.S. District Court for the District of Columbia.

We may update these terms at any time to reflect changes in law, regulation, or service features. You will be notified of material changes via email and in-app notification.

Continued use of the Service after changes take effect constitutes acceptance of the modified terms.