Good Funds App

What is Good Funds App

Good Funds App is an exciting new service brought about by the Faster Payments Initiative of the US Federal Reserve providing payments that are instant, final (irrevocable - "good funds") and secure.

Good Funds, is defined simply as: Irrevocably collected funds in a bank account and usable immediately by the owner of the account. Our "Good Funds" payment gateway allows for instant real-time digital payments that are immediate, irrevocable, intra-bank and/or interbank account-to-account (A2A) transfers that utilize a real-time messaging system connected to every transaction participant through all U.S.-based financial institutions. Funds are available for use by the receiver and real-time confirmation is provided to both you ("the sender") and receiver in seconds. Most Good Funds transactions are "Credit Push" versus "Debit Pull."

• In a business-to-business context, RTP offered by The Clearing House is a credit “push” system. Payments are pushed from the bank account of the business making the payment to the bank account of the company receiving it. In between, RTP supports the financial institution’s customer-facing systems for services like bill payment, cash management, peer-to-peer (P2P) payments, and emergency disbursements. Messages such as requests for payment, payment confirmations, requests for additional information, and remittance detail are used to create frictionless customer-facing interactions. TCH's system is the only privately owned Real-Time Payment "Rail" that can reach all U.S. bank and credit union accounts and enable funds to be sent and received within seconds. All TCH Real-Time payments are "Credit Push" instead of "Debit Pull."

Features & Benefits

TCH Real-Time payments has benefits for all parties involved in Financial Transactions.
Benefits to your company include:

• Money Transfer: Current limit of $25,000 (2020 should see limit increase to $100,000).
• It's Fast: 24/7/365 access to funds anytime vs. several days for paper checks or ACH transfers to process.
• It's Final: Because TCH says so. All RTP are Final & Irrevocable (see Good Funds below).
• Software Integration: Integrate your Management or Enterprise software with us.
• Message Detail: Full 145 characters available using ISO 20022 XML format.
• Online Down Payments: Don't use inconvenient and expensive Wires & Cashier's Checks.
• Online Real-Time Reporting: Configured Dashboard with Virtual Terminal login.
• Reduced calls / emails in the "Purchasing Chain": All parties to a "TCH Real-Time payments" transaction receive text & email messaging.
 Real-Time Payments via The Clearing House are GOOD FUNDS! The RTP System enables Participants to initiate credit transfers, receive final and irrevocable settlement for credit transfers, and make available to Receivers funds associated with such credit transfers in real-time, twenty-four (24) hours a day, seven (7) days a week, fifty-two (52) weeks a year.


• Federal Reserve Banks will develop a new round-the-clock real-time payment and settlement service, called the FedNow ® Service, to support faster payments in the United States. What are FedNow Real-Time payments: FedNow - Federal Reserve Real-time Payments The Federal Reserve's FedNow Service will be the second system (see The Clearing House RTP) offering Real-Time Payment "Rail" that can reach all U.S. bank and credit union accounts and enable funds to be sent and received within seconds.



• Not all Real-Time Payments are Good Funds. Real-Time Credit Card Payments and Real-Time ACH, although having the feature of instant settlement upon batching are not Final and Irrevocable.

About Good Funds App

Today Payments is a leader in the evolution of immediate payments. We were years ahead of competitors recognizing the benefits of Real-Time ACH funding through Real-Time Instant Direct Deposits (ACH Push) and Real-Time Instant Direct Payments (ACH Pull). Our customers receive faster availability of funds on deposited items and instant notification of items presented for deposit all based on real-time activity. Dedicated to providing superior customer service and industry-leading technology. Our platform with its tools / widgets help organizations of all sizes reduce transaction costs, mitigate risk and increase efficiencies. Our system ensures proper Authentication, Authorization, Verification, Settlement, Notifications and Postings.

Our "Good Funds" Payment Platform

Process with the Good Funds App Professionals