Fed Board sets 2027 fees for banks, credit unions' payment services
New pricing takes effect Jan. 1, 2027 and applies to all Federal Reserve payment and check-processing services used by member banks and credit unions.
The Federal Reserve Board announced that, beginning Jan. 1, 2027, banks and credit unions will pay revised fees for payment services provided by the Federal Reserve Banks, including check clearing, ACH transactions, instant payments, and wholesale settlement. The fee schedule applies to all depository institutions that use the Fed's payment infrastructure.
By statutory requirement, the Fed must set fees that recover the full cost of providing these services, including imputed costs. For 2027 the Board expects to recover 101.5 percent of actual and imputed expenses, reflecting the return on equity a private-sector provider would earn. The Board projects an average price increase of 1.4 percent for established, mature services.
In parallel, the Federal Reserve Banks disclosed adjustments to their check-processing operations. Responding to a prior request for information, the Board is optimizing processing windows during low-volume periods, raising the fees banks and credit unions pay to process checks, and implementing other operational updates. The changes are intended to maintain efficiency as check volume declines, without affecting consumers' or businesses' ability to use checks.
The complete 2027 fee schedule is available on FRBservices.org®. Additional data on service usage and the Board's payments services can be accessed through the Federal Reserve's website. Media inquiries may be directed to the email address provided in the release or to the listed phone number.
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