SouthState Bank is excited to introduce Instant Payments Receive, a new payment technology allowing funds to be received instantly into your business account.
Instant Payments Receive Benefits
- Incoming funds are processed through an Instant Payment network and deposited into your account immediately. Your company’s payments will be received within seconds compared to other payment transactions than can take several hours or days to occur.
- Immediate funds availability with Instant Payments Receive1
- The funds sender can include details in the message such as invoice, purchase order numbers, purchase details, or other relevant information to ease payment reconciliation.
- Funds are irrevocable and immediately applied to your account
- Instant Payments Credit Alerts are sent when funds are received into your account.
- Download the RealTime Payment Details Report any time to monitor Instant Payment activity in your account.
We encourage you to inform any customers, from whom you are expecting to receive a payment, that SouthState is participating in The Clearing House and the FedNow Instant Payments networks.
If you have already received incoming funds with a description titled ’RTP Enabled’, this means you received the funds through an Instant Payments network.
