FastPay RTP

Direct Bank Transfer (FastPay RTP Network) Process For Automobile Dealerships.

FastPay RTP Network

RTP network allows for real-time, 24/7, immediate payment processing. FastPay RTP networks are run by The Clearing House.

How It Works

The automobile dealership initiates the payment through their FastPay application. Funds are transferred directly to the seller’s account within seconds.

Confirmation

Both parties receive instant confirmation that the payment has been completed.

Same-Day Wires

If a real-time payment method isn’t available, a same-day wire transfer from the FastPay Warehouse to the seller’s bank would be arranged. While this isn’t “instant” in the RTP sense, it’s generally completed within a few hours.

Real-time payment methods streamline the car purchase process, making it faster and more secure than traditional checks or delayed transfers.