UHCU Launches Instant Payments, What Does That Mean For Me?

United Heritage Credit Union now supports instant payments, giving members a faster way to receive eligible funds. Payments can be deposited into your account within seconds instead of waiting for traditional processing times.

Instant payments are available around the clock, 365 days a year, and there's nothing you need to do to start receiving them. If a participating financial institution sends you an eligible payment, the funds will be automatically deposited into your UHCU account.

Read the FAQs below to learn more about how instant payments work.

How quickly will I receive an instant payment?
Eligible instant payments are typically deposited into your UHCU account within seconds.

When are payments available?
FedNow, the service UHCU uses to process instant payments, operates 24 hours a day, 7 days a week, including weekends and holidays. That means you can receive eligible instant payments anytime, day or night.

What's the difference between instant payments, ACH payments, and wire transfers?
Instant payments are designed to move money in seconds, any time of day, every day of the year. ACH payments typically take one to three business days, and wire transfers are usually completed the same business day but generally only during business hours and may have fees.

Do I need to enroll?
No. If the sender's financial institution participates in FedNow and sends a payment to an eligible account, the funds will be deposited automatically.

Can I send instant payments from my UHCU account?
Not at this time. UHCU currently supports receiving instant payments. We'll share updates if sending becomes available in the future.

Are instant payments secure?
Yes. Instant payments are processed through secure banking networks, just like other electronic payments.

How does someone send me an instant payment?
The sender must initiate the payment through their own financial institution. The sender can check with their financial institution to see if it’s available.

Can anyone send me an instant payment?
Only financial institutions and businesses that participate in the FedNow Service can send instant payments to your UHCU account.

Will there be a fee to receive instant payments?
No. UHCU will not charge a fee for instant payments.

Will I see instant payment transactions in Online Banking or Mobile Banking?
Yes. Received instant payments will appear in your transaction history, just like any other deposit.

What companies are leveraging FedNow for instant payments?
Members may recognize brands such as Uber, Chime, Robinhood, Cash App, MoneyGram, QuickBooks, TurboTax, and Coinbase. While these companies are not necessarily direct FedNow participants, many work with financial institutions or payment providers that support instant payments. The U.S. Department of the Treasury also plans to use FedNow for certain government payments in the future.