Immediate Funds offers unprecedented convenience for your customers through a simple, quick process. Check deposit transactions (in any channel) are routed through a robust decision engine. In less than two seconds, Fiserv provides your institution with a decision on whether you can offer the customer immediate availability of the entire amount of that check. All check types and amounts are allowed. Only when a check isapproved, will an offer to the customer to expedite funds be made. Non-approved checks simply don’t receive the offer and follow the standard funds availability policy.
After relaying the offer to the customer, they choose whether or not to accept the immediate funds service for a fee (set by your institution). If accepted, you credit the customer account with the net proceeds immediately. It’s that simple, and that powerful.