Instant Payments

What are instant payments and how can it benefit my business? Instant payments allow individuals and businesses to send and receive money within seconds at any time of the day. At Fifth Third Bank, we’re proud to offer Real Time Payments (RTP) and Request for Payments (RfP) services as part of our Instant Payment services. Bridge the gap between sending, receiving, and requesting funds from customers and vendors alike with secure, streamlined financial services.

  • Real Time Payments (RTP): Payments that send and settle in seconds.
  • Request for Payments (RfP): Allows clients to send request messages to payees to respond and make payments that settle within seconds.

Contact your Treasury Management Officer today:

Keep your Business Cash Flow Moving Forward

Two illustrated dollar signs signaling money transfers.Companies that offer Instant Payments have fewer concerns with:

  • Funding delays—evenings, weekends and holidays
  • Inability to place orders when you need them
  • Limitations with how you can use your funds
  • Reserves or holds delaying your funding release
  • Shortage of working capital

Benefits of Instant Payments from Fifth Third Bank

Fifth Third Bank offers the ability to both send and receive Instant Payments. We also offer:

  • 24/7, 365 processing
  • Immediate settlement
  • Delivery through API
  • Extensive data exchange
  • Real-time messaging
  • Unrestricted payee access to the full amount of the transaction
  • No reserves, holds, or limitations placed on how you can use funds

Real Time Payments

What are real time payments? RTPs are digital money transfers made within seconds. Here are benefits of real time payments and how they can be used for businesses:

gaming industry iconGaming Industry

  • Immediate funding: RTP provides the ability to immediately fund a wagering wallet—helping to deliver a positive customer experience.

  • Reduce your overhead: RTP network enables the customer to self-fund their accounts, reducing your back-office overhead to process transactions.

merchant settlement iconMerchant Settlement

  • Provide banking anytime: Transactions won’t be confined to 9-5 bankers’ hours. Transactions can flow 24/7—even on weekends and holidays!

  • Grow faster: Create an advantage by offering flexibility of RTP for merchants.

title iconTitle and Escrow

  • Greater peace-of-mind: Securely transmit over our network with authentication and tokenization.

  • Expanded hours: RTP allows you the ability to transact past wire cutoff times.

insurance iconInsurance

  • Reduce your overhead: Reduce the overhead to pay out an insurance claim.

  • Maintain line-of-sight: Control cash flow by setting limits on which transactions can go via RTP.

Request for Payments

Request to Pay (RtP) gives consumers and businesses greater flexibility when making payments.

energy iconEnergy and Utilities

  • Reduce your overhead: Reduce your back-office overhead to process payments.

  • Expanded hours: Support collection efforts by providing a solution to pay outside of banking hours.

rental iconRental and Property Management

  • Boost customer retention: Increase customer retention and satisfaction with expanded payment options.

  • Improved efficiency: Reduce your cost associated with processing paper checks—and eliminate the risk of bounced checks.

Contact your Treasury Management Officer today: