Instant account-to-account (A2A) transfers: Delivering with speed when it matters
In the world of instant money movement, it’s past time for A2A to catch up with P2P.
Digital banking account holders increasingly expect the convenience of instant peer-to-peer (P2P) transfers, which entail sending or receiving money from one of their accounts to another person or organization’s account.
But most account-to-account (A2A) transfers, in which consumers move funds between their own accounts at different financial institutions, are far from instant. That’s because A2A transfers still largely rely on automated clearing house (ACH) or wires that can take days to complete, and that can only be finalized Monday-Friday.
Financial institutions (FIs) that offer instant A2A transfer options using the Real-Time Payments (RTP®) and new FedNow℠ payment rails can differentiate their offerings from competitors, increase overall account holder satisfaction, and better appeal to millennial and Gen Z consumers raised on instant digital gratification—all while boosting revenues from optional fees.
