Federal Reserve Raises Check Processing Service Fees
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AI-assisted source synthesis · not an independent investigation.
On November 14, 2026, PYMNTS reported that the Federal Reserve expects to raise check service prices by an average of 5.4% effective January 1, 2027. Banks bear these fees initially, and the report noted that this could prompt banks to accelerate efforts to move supplier payments from paper checks to electronic payments. A survey found that 59% of businesses still use checks to pay B2B amounts, but checks account for an average of only 13% of business payments. In addition, Nacha plans to raise the per-transaction limit for Same Day ACH from $1 million to $10 million in September 2027.
AI-written from reports · updated 1 hour ago
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- PYMNTSThe Federal Reserve raises check service fees, but businesses continue to use checks
The Federal Reserve expects to raise check service prices by an average of 5.4% starting January 1. Banks will bear the fees initially, which could prompt them to accelerate the shift of supplier payments from paper checks to electronic payments. In a survey, 59% of businesses used checks to pay B2B bills, but checks accounted for only 13% of payments on average; Nacha plans to raise the Same Day ACH limit from $1 million to $10 million in September 2027.
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