Real-Time Payments

A Real-Time Payment, or RTP®, is a transaction that moves in seconds through the RTP Network and settlement system offered by The Clearing House. This isn't an ACH or wire transaction.

The RTP Network provides the ability to conveniently distribute and access funds immediately, 24/7/365. All payments can only be initiated from and received by a federally insured US depository institution that's a registered participant on the RTP Network. Visit The Clearing House for a list of all participants on the network.

RTP, ACH and domestic wire payments are all methods of moving money between accounts, but they differ in terms of speed, cost and use cases. ACH is characterized by its cost-effectiveness but slower processing times. RTP excels in speed and accessibility for real-time transactions on a 24/7/365 basis. And domestic wire transfers fall in between, offering faster processing than ACH but with higher fees.

The choice depends on factors such as transaction urgency, dollar value of the transaction, cost considerations and the specific use case. For more details on these differences, see our Payment Comparison Overview (PDF).

Speak to your banker, or contact the Business Engagement Center at 866-322-4249 Monday through Friday, 8 am ET to 9 pm ET.

RTP is available 24/7/365, which allows you to send and receive payments any time. All payments post within seconds of when the payment was sent and received.

A sender may be limited on how much they can send from their participating bank, but the network rules allow you to receive up to $10 million per transaction.

No. RTPs are domestic only.

An RTP that you send will have a description of RTP Debit. Once the RTP posts to your account, you'll see RTP Debit and all or a portion of the recipient's name. This same information will be included on your bank statement.

An RTP that you receive will have a description of RTP Credit. Once the RTP posts to your account, you'll see RTP Credit, 20 characters of the sender's name and the 35-digit instruction ID for your payment. This same information will be included on your bank statement.

To receive an RTP, provide the sender with your routing number, 053100300 and your account number.

More businesses are starting to offer RTPs instead of checks, ACH or wires. Some of these businesses require you to select the option to receive an RTP instead of an ACH or wire. For example, if you're using a digital wallet like Venmo, you may need to select the RTP option to send your funds real-time to your bank account.

Once the bank initiates the transaction in the RTP network, it sends the payment and the recipient receives it within seconds.

Verify with the sender that they:

• Received a message that the payment was sent successfully
• Used routing number 053100300 and your correct First Citizens account number
• Received the payment back

If you've opted out of receiving RTPs, you'll need to opt back in or have the sender pay you through a different payment type.

Have the sender provide the instruction ID sent with the payment and contact your local banker for additional assistance.

To send an RTP, you must be a Commercial Advantage customer and request to be enrolled in the service. Contact your banker to enroll. You'll need the routing and account numbers of the recipient.

You may sign up to receive an email remittance notice that includes any additional information provided by the sender. Contact your banker to submit a request to enroll to receive email remittance notices. Additional fees may apply.

You may also sign up to receive SMS text alerts. The alert will contain the first 23 characters of the sender's name, the amount and the last four digits of your account number. Contact your banker to submit a request to enroll to receive RTP SMS text alerts. Additional fees may apply.

Commercial Advantage customers can also set up an alert in Commercial Advantage to receive notification of receipt of an RTP.

Contact your banker to submit a request to opt out of receiving RTP.

Contact your banker to submit a request to opt in to receiving RTP.

If you suspect the RTP is fraudulent, being sent to the wrong person or the account number is incorrect, contact your banker or the Business Engagement Center at 888-322-4249 Monday through Friday, 8 am ET to 9 pm ET.

No. The RTP Network is a credit-push, one direction payment system that doesn't allow debits.

RTPs are irrevocable. The RTP Network is a credit and payment system that does not allow debits or disputes. If you suspect the RTP is erroneous or fraudulent, please contact your banker or contact the Customer Engagement Center at 888-323-4732 Monday through Friday, 8 am ET to 9 pm ET or Saturday and Sunday, 8 am ET to 8 pm ET.

You can get detailed remittance information on received RTP transactions through email, SMS text or Commercial Advantage.

RTP also includes the Payment-Related Messages and Non-Payment Messages feature, which allows a business or financial institution—both payee and payer—to request and send information regarding a payment and acknowledge receipt of a payment.

You can get detailed remittance information on received RTP transactions through email, SMS text or Commercial Advantage.

RTPs are limited to active checking and savings accounts.

Once the bank initiates the transaction in the RTP network, it sends the payment and the recipient receives it within seconds.

Business and commercial clients receive a fee at the time payment is received, at the time the remittance notice is accepted for each email address or at the time the SMS text alert is sent for each telephone number. Analysis accounts will receive the fee at the end of the month. Contact your banker for further information.

For more details on RTP functionalities in Commercial Advantage see the Real-Time Payments Guide (PDF) or contact your Relationship Manager.

With Digital Banking, you'll be able to view RTPs as posted transactions. However, there are no additional features. For additional features, you'll need Commercial Advantage.

It depends on the functionality that the receiver's bank offers to their clients. The network provides the ability for recipients to acknowledge a payment was received.

At First Citizens, only Commercial Advantage customers can acknowledge a payment. Please see the Real-Time Payments Guide (PDF) for instructions.