OURCU Instant Payment Platform for the FedNow® Service
The FedNow® Service is the Federal Reserve’s instant payment platform, providing financial institutions of every size, and in any location across the nation, access to safe and efficient instant payment services in real time, 24 hours a day.
More About the FedNow® Service
The Federal Reserve Banks developed the FedNow Service to facilitate nationwide reach of instant payment services by financial institutions — regardless of size or geographic location — around the clock, every day of the year. Through financial institutions participating in the FedNow Service, businesses and individuals can send and receive instant payments at any time of day, and recipients have full access to funds immediately, giving them greater flexibility to manage their money and make time-sensitive payments. Access is provided through the Federal Reserve’s FedLine® network, which serves more than 9,000 financial institutions directly or through their agents. For more information, visit FedNowExplorer.org (Off-site).
Tips to using the correct account information to perform an electronic transfer:
You will always need to provide the routing number when performing an electronic transfer. The routing number is unique to the financial institution but the same for every member and is used to identify what financial institution funds are being routed to.
OURCU’s routing number is 325182357
Savings account numbers are also referred to as your member number and they can be anywhere from three to six digits in length. You would have been provided this number at the time of account opening and can also locate this number by logging into digital banking and navigating to the ACH number. Please note you should leave off any leading zeros and do not include a suffix.
Savings format examples: 3 digits (xxx), 4 digits (xxxx), 5 digits (xxxxx) or 6 digits (xxxxxx)
Checking account numbers are always 12 digits in length and begin with a prefix of 78916. The remaining numbers are made up of filler zeros, your account number and a random check digit generated by our system to complete your 12 digit checking account. This number can be found on the MICR line at the bottom of a check or it can also be located by logging into your digital banking and navigating to the ACH number.
Checking format examples:789160xxxxxx or 789161xxxxxx
If you are unable to locate the correct information, please reach out to our Contact Center at 800-426-5657.
Instant Pay Service Terms & Conditions
Instant Pay is a digital banking service that allows you to send money to other persons or businesses by providing certain required information. Using Instant Pay, funds are transmitted through the Federal Reserve to the recipient’s financial institution for credit to the individual based on the information you provide. If you are approved for the Instant Pay service, your use of the service is subject to the following terms and conditions in addition to the other applicable terms of the Electronic Funds Transfer Agreement and Membership and Account Agreement.
Instant Pay transactions are subject to the following limitations:
$ 500 per transaction
$ 1,000 per day
$ 2,000 per week (rolling seven (7) day period)
$ 3,000 per month (rolling thirty (30) day period)
$ 500 for the first 72 hours for any newly added recipient(s)
$500 per day for seven (7) calendar days for new accounts (open less than thirty (30) calendar days)
In order to initiate an Instant Pay transaction, you may be required to provide certain information regarding the transfer, the recipient, and the recipient’s financial institution. We, the Federal Reserve, and the recipient’s financial institution will all rely on the information you provide. If you provide an identifying number (routing number) for the recipient’s financial institution or for the recipient (or both), we, the Federal Reserve, and the recipient’s financial institution will all rely on those numbers, even if they identify a different financial institution or recipient.
Once you initiate an Instant Pay transaction, it cannot be revoked or reversed. Therefore, it is critical that you obtain and provide us with correct information for the transfer. In addition, do not use this service to send money to a person or business that you are unfamiliar with. There is no ability to reverse or charge back an Instant Payment transaction due to the recipient’s failure to provide or perform goods or services you have requested. Accordingly, do not use the service to send funds if you believe you may need to recover those funds later.
We reserve the right to deny access or terminate the service at any time without prior notice to you. All Credit Union loan programs, rates, terms and conditions are subject to change at any time without notice.
