(10 February 2025 – United States) BNY has set a new milestone in real-time payments, executing the largest instant payment in US history through The Clearing House’s RTP Network.
The bank successfully transferred $10 million to Bank of America on behalf of Computershare for inter-company liquidity management.
This record-breaking transaction was enabled after The Clearing House raised the RTP Network’s transaction limit from $1 million to $10 million, expanding the scope of real-time, high-value payments.
According to The Clearing House, instant, high-value payments are essential for corporates managing large supplier transactions, wealth management and brokerage transfers, payroll funding, and liquidity needs. The RTP Network provides 24/7 availability, immediate funds access, and enhanced transparency, ensuring seamless financial operations.
Ann Bowering, CEO, Computershare Issuer Services, North America, emphasised the impact of real-time payments: “In our industry, the ability to move large payments instantly, securely and reliably is crucial. With real-time payments, we can settle higher-value transactions immediately, reducing counterparty risk and improving overall working capital efficiency.”
This landmark transaction signals a new era in corporate payments, highlighting the increasing adoption of real-time liquidity solutions to enhance financial agility and operational efficiency.