The Clearing House raises RTP network transaction limit
The Clearing House, which operates the RTP network (Real-time Transport Protocol) in the US, has increased its transaction limit to $100,000 from its previous transaction limit of $25,000. The new payment limit was effective from 1st February 2020. RTP network facilitates real-time payments for financial institutions and corporations. B2B payments or large disbursement of payments will gain from an increase in transaction value limit.
“Increasing the transaction value limit to $100,000 is the next logical step for the growing RTP network. Businesses and consumers often want to send higher value payments and the $100,000 limit helps to address their needs,” said Senior Vice President of Product Strategy and Development for The Clearing House Steve Ledford.
Under new rules, depository institutions on the RTP network are required to accept payments up to $100,000. However, individual participants may set a lower value limit for payments they originate.