Cision PR Newswire
Manasquan Bank Announces FedNow® Service and RTP® Payments Will Now Be Accepted
News provided byMB MUTUAL HOLDING COMPANY, d/b/a MANASQUAN BANK/MANASQUAN SAVINGS BANK
Sep 19, 2023, 7:45 AM ET
WALL TOWNSHIP, N.J., Sept. 19, 2023 /PRNewswire/ -- Manasquan Bank, a community bank serving Monmouth, Middlesex and Ocean Counties in New Jersey, is pleased to announce that it is now live on the Federal Reserve's new instant payment rail, the FedNow® Service, as well as on the Clearing House's real-time payments network, RTP®, for commercial and consumer clients. These new capabilities allow Manasquan Bank clients to receive faster payments, with transactions processed in real-time, 24 hours a day, 7 days a week, providing them with greater flexibility and convenience, and making it easier for them to receive payments quickly and securely.
Manasquan Bank is currently only one of approximately sixty Banking Institutions (of over 4,600 nationally) across the country that is a participant of the FedNow® Service. Presently, Manasquan Bank is also the sole Banking Institution participant in the State of New Jersey.
"This is an exciting development for Manasquan Bank and our clients," said James S. Vaccaro, Chair, President and CEO of Manasquan Bank. "We are committed to providing our clients with the latest payment technologies, and the addition of FedNow® and RTP® to our payment options is a big step forward in achieving that goal."
With the FedNow® Service and RTP® payments, Manasquan Bank is making it easier for businesses and individuals to receive payments quickly and securely, reducing the risk of fraud and errors associated with paper checks and other traditional payment methods.
The addition of the FedNow® Service and RTP® exemplifies Manasquan Bank's continuing commitment to offer leading-edge solutions to its valued clients in an effort to provide the best possible banking experience.
About Manasquan Bank:
Manasquan Bank, a mutual community bank with consolidated assets of $2.8 Billion, is headquartered in Wall Township, NJ. The Bank has been serving New Jersey residents since 1874 and continues to pioneer the future of banking with both traditional and digital solutions. The Bank offers a full line of personal & business services, and operates fifteen branch locations throughout Middlesex, Monmouth & Ocean Counties. Manasquan Bank proudly supports community-focused, non-profit initiatives through the Manasquan Bank Charitable Foundation. For more information, visit www.manasquan.bank
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SOURCE MB MUTUAL HOLDING COMPANY, d/b/a MANASQUAN BANK/MANASQUAN SAVINGS BANK
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