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Payment Systems

The Federal Reserve works to promote a safe, efficient, and accessible system for U.S. dollar transactions.

<p>Federal Reserve Financial Services logo, 1992 (via <a href="">FRASER</a>)</p>

Federal Reserve Financial Services logo, 1992 (via FRASER)


Last updated January 16, 2024

Essays in This Theme

Automated Clearing House Payments - The Federal Reserve began operating an electronic payment Automated Clearing House system in the 1970s to provide a substitute for paper checks.

Cash Services - The Federal Reserve System issues and distributes the nation’s currency

Check Payments - Congress charged the Federal Reserve with using the nationwide scope of its operations to improve the check payments system

Fedwire - Since 1915, the Federal Reserve has operated a wire payment system, known today as Fedwire