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Operating Circular 8 Details FedNow Terms and Conditions

In anticipation of the mid-2023 FedNow Service launch, Operating Circular 8 outlines the terms and conditions for funds transfers made through the service. The circular references the accompanying FedNow Service Operating Procedures, which provide operational details on key topics such as participant and service availability expectations, connection profiles, fraud mitigation and reporting, and ISO® 20022 messaging used within the FedNow Service.

Both Operating Circular 8 and the Operating Procedures are available on the Operating Circulars page of