Fed Lowers Electronic Payment Fees Again

Prices across all Federal Reserve electronic payment services— particularly Fedwire® and ACH transactions—will decline 17.5 percent in 1999. It marks the fifth straight year that the Fed System has lowered fees for these services. The Fed recently announced these and other 1999 fees and deposit deadlines for the following services: Accounting Information, Cash, Check, Electronic Connections, Electronic Payments and Securities.anks will reduce the basic fee for a Fedwire funds transfer by almost 30 percent and the fee for a Fedwire securities transfer by almost 25 percent. The Fed will eliminate some ACH fees and reduce others, including the fee for items received, which will decline by more than 12 percent.

The Fed also will implement a volume-based fee structure for the Fedwire funds transfer service and a new fee structure for the Fedwire securities transfer service. These changes will become effective Feb. 1, 1999.

In Check, fees are increasing marginally for select per-item and cash letter services to reflect the costs of providing these services. Electronic check service fees will remain stable.

The Fed recently sent out its 1999 price books. To request additional copies, please contact your Federal Reserve account executive.

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