Announcing 2021 Federal Reserve Financial Services product and fee changes
November 10, 2020
The Federal Reserve Banks are pleased to confirm that, in 2021, Federal Reserve Financial Services fees will remain flat with the exception of the monthly Check Services Participation Fee. The Board of Governors announced its intent to keep price changes minimal in a July 21 press release (Off-site). This approach recognizes the uncertainties created by the COVID-19 pandemic, and the difficulty in applying standard forecasting tools in this environment. We will continue to make investments in our products and services to help maintain the security and resiliency of the payment system.
An overview of 2021 product and fee changes is provided below. The impact on your institution will depend on your product mix and volume. Details on the specific changes can be found on the Service Fees page on FRBservices.org®.
Services with fees remaining unchanged in 2021:
- Accounting Services
- FedACH® Services
- FedCash® Services
- FedComplete® Packages
- FedLine® Solutions
- Fedwire® Funds Service
- Fedwire Securities Service *
- National Settlement Service
* Applies to Fedwire Securities Service fees set by the Federal Reserve Banks. Fees and surcharges related to U.S. Treasury Securities transfers are set by the U.S. Department of the Treasury.
Services with fee changes in 2021:
- Check Services
Effective January 4, 2021, the monthly Check Participation Fee will transition from a single price point of $25 to a new tiered pricing structure with fees ranging from $40 to $135.
If you have any questions about product and fee changes or how they may affect your institution, please contact your account executive. The Federal Reserve Board’s press release (Off-site) provides an overview of the fee changes planned for next year. All changes will be effective January 4, 2021.
We value the trust you place in us and our services and look forward to working with you in 2021.