At Amplify Credit Union, our goal is always to prioritize safety and speed in all our members’ transactions. That is why we’re excited to announce that Amplify will begin rolling out the first phase of our real-time or instant payments later this month. In this article, we will provide a short overview of instant payments as well as the benefits to receiving instant payments.

Key Takeaways:

• On October 22, 2025, Amplify Credit Union will begin allowing both commercial and personal accounts to receive instant payments. This will be the first phase of a two-phase rollout of instant payments.
• Unlike external transfers or ACH transactions, instant payments are completed instantly, giving the recipient immediate access to the agreed-upon funds.
• Instant payments will fall under Amplify’s list of fee-free services.
• While members will be able to receive funds instantly, the ability to send instant payments will not be available to members until phase two at a later date.

What are instant payments?

As the name suggests, instant payments are electronic payments that are processed in real time. Unlike external transfers and ACH transactions – which can often take hours or even days to clear – these funds are transferred and made available to the recipient almost immediately.

Are instant payments safe?

Yes. Instant payments are just as safe as a bank transfer or ACH transaction. As always, we recommend members take advantage of our fraud protection alerts to avoid unexpected or unwanted activity on their accounts.

Will there be a fee to receive instant payments?

As part of our ongoing commitment to fee-free banking, Amplify will not charge fees for members to receive instant payments on commercial or personal accounts. That said, some outgoing platforms do have fees associated with instant payments, so make sure you review the terms beforehand. 

What are the benefits of instant payments?

With the ability to receive instant payments from participating financial institutions and platforms, your banking at Amplify has never been faster. Below are just a few of the benefits available to both personal and commercial account holders.

Here are the benefits for personal accounts:

• Quicker direct deposit turnarounds. If your employer offers an instant payment option, those funds can now be available in real time.
• Quicker transfers from other banks. Moving money from another financial institution can now take minutes instead of days with instant payments.
• Faster withdrawals from payment apps. Transfer money instantly through a third-party payment app like Cash App or Venmo.

Here are the benefits for commercial accounts:

• Increased cash flow optimization. Businesses and nonprofits can better manage their budget by receiving near-instantaneous transfers or payments.
• Improved business relationships. Vendors who are set up to receive instant payments can be confident in their ability to be paid on time.
• Improved customer satisfaction. Businesses and nonprofits can remove the guesswork from payments or donations with instant payment confirmation.

Once Amplify is ready to enable commercial and personal accounts to send instant payments, our team will provide additional resources on how to use instant payments to your advantage.

How do I receive instant payments?

Similar to an ACH transfer, members will need to provide four pieces of information to have instant payments issued to their Amplify accounts.

• Member name
• Routing number (see here)
• Account number
• Account type

Once that information has been entered into an instant payment platform, you will be able to receive funds in real-time at the designated account.

When can members send instant payments?

Once our team enables commercial and personal accounts to receive instant payments, we will work with our vendor to allow members to send instant payments. We do not have an estimated launch date as of yet, but will be sure to notify our members once that date is available.