How can receiving Instant Payments benefit me?

There are multiple ways that you can benefit from receiving an instant payment, including:

• Digital Wallet Transfers – Members can move money from their digital wallet (i.e., Venmo, CashApp) instantly to their eligible Jeanne D’Arc Credit Union savings or checking account.
• Account-to-Account (A2A)/Me-to-Me transfers (M2M) – Members can move money between their accounts at different financial institutions and can access that money right away. This would require their other financial institution to offer the send function for Instant Payments.
• Person-to-Person (P2P) – Members can receive money from a different person, similar to Venmo and CashApp. Instead of receiving funds in a third-party app, you can receive the funds instantly into your eligible Jeanne D’Arc Credit Union savings or checking account.
• Business-to-Consumer (B2C) – Members can receive money from businesses instantly into their eligible Jeanne D’Arc Credit Union savings or checking account. Examples of this can include receiving insurance claim payouts and health claim payouts. The business would have to be able to send the funds via one of the Instant Payment networks.
• Business-to-Business (B2B) / Consumer-to-Business (C2B) – Business members could receive funds from consumers or other businesses instantly into their eligible Jeanne D’Arc Credit Union business savings or business checking account for amounts owed for services and/or goods rendered.
• Earned Wage Access – Members can receive early access to their earned wages provided by their employer. Rather than wait for a normal weekly, bi-weekly, or monthly payroll cycle, some employers allow their employees access to their earned wages daily and can provide that via the Instant Payments networks. Members’ employers must offer this functionality and be able to send via the Instant Payments networks.