BNY Facilitates Largest Instant Payment in US History

BNY has made history by sending the largest instant payment ever recorded in the US, transferring $10 million to Bank of America via The Clearing House’s RTP Network on behalf of Computershare.

This milestone transaction was enabled by The Clearing House’s recent increase in the RTP network’s transaction limit from $1 million to $10 million. The upgrade allows businesses to manage large supplier transactions, move wealth management funds, fund payrolls, and address urgent liquidity needs in real time.

The RTP network operates 24/7, providing immediate funds availability and enhanced payment transparency. Computershare Issuer Services CEO Ann Bowering emphasized the significance of real-time payments in reducing counterparty risk and improving working capital efficiency.