INSTANT DIGITAL DOWNLOAD | BOOK PLUS SAMPLE POLICIES AND PROCEDURES
FedNow® Exception Processing Package
The plain-English book on FedNow® exceptions and the return request, plus a complete set of sample policies and procedures your team can adapt. Built from Regulation J Subpart C, Operating Circular 8 and the FedNow® Service Operating Procedures.
Run both networks? Get the FedNow® and RTP® packages together for $499 and save $99.
Get the FedNow® Package: $299Built for the people who work FedNow® exceptions
A FedNow® payment is final in seconds, so when it goes wrong your team has to know exactly which message to send, what the rules require, and how fast. This package is written for payment operations and exceptions staff, their managers, and the compliance, fraud and risk professionals who write the policies everyone else follows, whether you send, receive, or both. RTP® Comparison boxes show where the two networks differ, for institutions that run both.
What's inside
The Book (72 pages)
FedNow® Exception Processing and the Return Request. Fourteen chapters in four parts, with From the Rules quotes, plain-English definitions, RTP® Comparison boxes, The Professor's Take, realistic Apply What You Learned cases, and Check Your Understanding questions with an answer key.
Sample Policies and Procedures (47 pages)
One governing policy and 21 adaptable procedures, color-labeled for the Sender FI side, the Receiver FI side, and both sides. Each has a control block, numbered steps, Review Decision boxes and Key Control boxes your examiners and auditors will look for.
Tools, Forms and Checklists
The FedNow® exception message map, code references, clocks and deadlines at a glance, adoption and approval records, verification sources, and a procedure toolkit your institution may adapt for internal use.
Every FedNow® exception, from the first message to the money moving back
The book explains the rule and the reason behind it. The samples turn it into written procedures your institution can review, adapt and adopt. Together they cover:
- How FedNow® exceptions work: finality and the document stack, the exception message map, payment responses, and what to do when a message goes missing
- The return request and the payment return: sending a return request, receiving and answering one, moving the money back, information requests and second tries
- Fraud, warranties and risk tools: Reportable Transfers and fraud reporting, Request for Payment warranty claims, indemnity, liability and Article 4A
- Risk tools that prevent exceptions: using the FedNow® risk tools before a problem becomes a case
- Putting it into practice: building your policies and procedures, FAQs and lessons learned
Frequently asked questions
What exactly do I receive?
Who is licensed to use it?
Is it current with the rules?
Can we use the sample procedures as written?
We run both RTP® and FedNow®. Is there a discount?
Run both networks? Get the RTP® package too and save $99
The RTP® Exception Processing Package mirrors this one for the other instant payment rail, so your team works exceptions the same way on both. Get both packages together for $499 instead of $598.
See what is in the RTP® package
Get Both Packages: $499 (Save $99)Be ready before the next FedNow® exception lands
Download the FedNow® Exception Processing Package and give your team the rules, the reasons and the written procedures in one place.
Get Instant Access: $299This publication is educational and does not constitute legal, regulatory, or compliance advice. The sample policies and procedures must be reviewed by your institution's legal, compliance and risk professionals before use. FedNow® is a registered service mark of the Federal Reserve Banks. RTP® is a registered service mark of The Clearing House Payments Company L.L.C. Payments Professor is not affiliated with, sponsored by, or endorsed by the Federal Reserve or The Clearing House.
