Fees for established, mature priced services the Federal Reserve Banks provide to banks and credit unions are rising on average by an estimated 2.8% beginning Jan. 1, excluding FedNow and Fedwire securities priced services, the central bank said Friday.
The Federal Reserve Board said the price increases will affect check services, FedACH (automated clearinghouse), Fedwire Funds, the National Settlement Service, and FedLine. Fees for the FedNow Service will remain unchanged from 2024, it said, except the Reserve Banks will modify the Customer Credit Transfer, Customer Credit Transfer Return, and Request for Payment fee components of the service to exclude “on-us” transactions sent from and received at the same financial institution.
The Reserve Banks will maintain prices at existing levels for all Fedwire Securities priced services, the Fed said.
The Federal Reserve Board, in its announcement, said the price changes are in line with the Reserve Banks’ strategy to offset rising costs, diversify revenue sources, and continue to reduce pricing volatility.
The Fed noted that it is required by law to establish fees to recover the costs, including imputed costs, of providing payment services over the long run. The Fed said it expects to recover 104.1% of actual and imputed expenses in 2025, including the return on equity that would have been earned if a private-sector firm provided the services.
“Overall, the Reserve Banks estimate that the price changes for 2025 will result in a 2.8 percent average price increase for established, mature services,” it said.
The full 2025 pricing schedule is in a notice to appear in the Federal Register and online at FRBservices.org ®.
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