Earnest Deposit: Secure & Instant Transactions with RTP® Real-Time Payments

RTP® (Real-Time Payments) for Earnest Deposit Transactions

When securing a real estate purchase, an earnest money deposit (EMD) shows a buyer’s commitment. With RTP® (Real-Time Payments), buyers, realtors, and escrow companies can send and receive earnest deposits instantly, 24/7, without delays or banking cutoffs.

Why Use RTP® for Earnest Deposits?

✅ Instant Deposit Transfers – Funds are sent and received within seconds.
✅ Available 24/7/365 – No waiting for business hours or banking delays.
✅ Eliminates Fraud Risks – Avoids issues with wire fraud, checks, and ACH delays.
✅ Direct Bank-to-Bank Transfers – Secure transactions without third-party intermediaries.

💡 With RTP®, earnest deposits can be processed in real-time, ensuring faster real estate transactions and reducing risks for buyers and sellers.

How to Process an Earnest Money Deposit Using RTP®

1️⃣ Verify That Your Bank Supports RTP®

• Confirm that both the buyer’s and escrow agent’s banks are enrolled in RTP® (Real-Time Payments).

2️⃣ Initiate a Real-Time Payment for the Earnest Deposit

• Use your bank’s RTP® platform or a payment service like FedNow® or QuickBooks®.
• Enter the deposit amount, property details, and escrow account information.

3️⃣ Instant Transfer & Confirmation

• The payment is settled instantly in the escrow account, with a receipt generated in seconds.
• Both the buyer and escrow agent receive confirmation, eliminating deposit delays.

4️⃣ Reconcile the Transaction with QuickBooks® or Accounting Software

• RTP® transactions can be automatically logged into QuickBooks® (QBO) for easy tracking.
• Generate an earnest deposit receipt for compliance and record-keeping.

RTP® vs. Other Payment Methods for Earnest Deposits

Feature	RTP® (Real-Time Payments)	FedNow®	ACH/Wire Transfers
Speed	Instant (24/7)	Instant (24/7)	1-3 Days
Availability	24/7/365	24/7/365	Business Hours
Settlement	Immediate	Immediate	Delayed
Fraud Protection	High	High	Medium
Best For	Real Estate, B2B, Large Deposits	Instant Deposits, P2P	Traditional Banking

Benefits of Using RTP® for Earnest Money Deposits

📌 No More Wire Transfer Delays – Funds settle in seconds, not days.
📌 Fraud Prevention – Protects against check fraud, wire fraud, and chargebacks.
📌 Ideal for Real Estate & High-Value Transactions – Ensures quick, secure deposits.
📌 Better Record-Keeping – RTP® payments are trackable and auto-reconciled.

Final Thoughts: RTP® Makes Earnest Deposits Faster & Safer

💳 Using RTP® Real-Time Payments for earnest deposits eliminates delays, enhances security, and streamlines real estate transactions.

📌 Start using RTP® for your next earnest deposit today! 🚀

Creation Request for Payment Bank File

Enhance Your Earnest Deposit using Real-Time Payments Requests with FedNow’s ISO 20022 Messaging

Streamline Payments with Advanced Request for Payment Options:

Harness the power of FedNow's Request for Payment system to transform how you manage invoices and remittances. Our platform supports diverse data integration options, allowing payees to incorporate detailed invoice data directly within the RfP message or link to a comprehensive Merchant Page.

Flexible Invoice Details with ISO 20022 Messaging:

Leverage the flexibility of ISO 20022 messaging standards in our RfP system. You can choose to display crucial payment details directly in the message with a concise 140-character description, or through a dynamic "Hyper-Link" leading to a detailed Merchant Page. This Merchant Page can be hosted either on your website or TodayPayments.com/HostedPaymentPage.html through our seamless integration solution.

Customizable Merchant Pages for Enhanced Customer Experience:

Create a Merchant Page that not only details all the MIDs you own but also presents these options attractively to your customers through the RfP. This customization ensures that whether your payer opts for Real-Time Payment, Same-Day ACH, or Card transactions, they can easily navigate and complete their payments through a simple click on the hyperlink provided on your Merchant Page.

Call us today and receive the .csv or .xml FedNow® or Request for Payment (RfP) file you need—all during your very first phone call! We guarantee that our comprehensive reports integrate flawlessly with your bank or credit union. As pioneers in recognizing the benefits of RequestForPayment.com, we have stayed years ahead of our competitors. Although we are not a bank, our role as an "Accounting System" within the Open Banking ecosystem enables us to work with billers to create effective RfP files that seamlessly upload to the biller's online banking platform. U.S. companies rely on our expertise to learn how to deliver the RfP message directly to their bank with precision.

Our advanced solution, Today Payments' ISO 20022 Payment Initiation (PAIN.013), demonstrates how to create a Real-Time Payments Request for Payment file that sends a clear message from the creditor (payee) to its bank. Most financial institutions support the import of messaging and batch files for both FedNow® and Real-Time Payments (RtP), ensuring smooth processing. Once the file is correctly uploaded, the creditor’s bank processes the payment through a secure "Payment Hub"—with The Clearing House serving as the RtP Hub—and relays the message to the debtor's (payer's) bank. This streamlined approach not only accelerates transaction processing but also enhances transparency and reliability for all parties involved.

... easily create Real-Time Payments RfP files. No risk. Test with your bank and delete "test" files before APPROVAL on your Bank's Online Payments Platform. Today Payments is a leader in the evolution of immediate payments. We were years ahead of competitors recognizing the benefits of Same-Day ACH and Real-Time Payments funding. Our business clients receive faster availability of funds on deposited items and instant notification of items presented for deposit all based on real-time activity. Dedicated to providing superior customer service and industry-leading technology.