Real-Time Payments

Mobile Banking

Mobile Deposit

Real-Time Payments

Real-Time Alerts

Digital Wallet

Contactless Card

woman smiling as she receives a real time payment alert on her phone

Enjoy the convenience of receiving immediate, real-time payments from people and businesses!

Mechanics Cooperative Bank is excited to announce the implementation of real-time payment functionality and the ability to receive payments instantly, no matter the time or day!

RTP Features & Benefits:

Receive funds up to virtually instantaneously!
Always on! Funds can be deposited 24/7.
Free benefit as a Mechanics Cooperative Bank customer!

Real-Time Payment FAQ’s

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What are Real-Time Payments?

Real-time payments are payments made between banks that are initiated, cleared, and settled within seconds! Real time payments can happen 24/7 including holidays and weekends!

Is there a cost to receiving RTP transactions?

No! Real Time Payment transactions are made available to you at no additional cost!

Is there a Real-Time Payment Transaction limit?

Yes. There is a $1,000,000 limit. Please note a lower transaction limitation may exist with the originating bank/company.

How do I receive a Real-Time Payment?

If the organization/person you are doing business with is on the RTP Network – simply provide the sender with the routing number and account number of the account you’d like the payment sent to. REMINDER: Only provide your routing number and account number with senders you know and trust. Your routing number and account number can be found on the bottom of your checks.

What happens when I receive an RTP?

The item will be posted to your account and your statement description will read: “RTP” with any additional details regarding the Real time payment. You can check if the funds have posted by accessing your accounts 24/7 using our Internet and Mobile Banking platforms!

The RTP network from The Clearing House (TCH) is a real-time payments platform. As a Mechanics Cooperative Bank customer, you are able to receive RTP transactions directly to your checking account!

We plan to launch RTP origination in the future – allowing you to send RTPs to anyone on the RTP payment network, anytime!