RTP: Your Money, Right Now.

Posted: April 30, 2025

Say Goodbye to Waiting—Your Money is Available Instantly!

We’re excited to introduce RTP®—a faster, more secure way to receive money instantly. With RTP, funds sent to you from platforms like PayPal, Square, and Venmo will be deposited into your Labor Credit Union account. No more waiting for transfers to process—your money will be available when you need it!

Why You’ll Love RTP:

✔ Instant Access – Get your money immediately, anytime. ✔ Secure & Reliable – Enjoy safe, real-time transactions.

How It Works:

  • When someone sends you money using a compatible platform (like PayPal or Venmo), the funds will be transferred to your account1 instantly.

  • No need to wait for traditional processing times!

Start Enjoying Instant Payments Today!

RTP is automatically enabled for members—just continue using your favorite payment apps and enjoy the benefits of real-time transfers.

Have questions? We’re happy to help! Contact us at (202) 789-2901 to learn more.

 

FAQ

Will members be charged fees for participating?

Labor CU do not charge the member fees. However, third-party money transfer apps will almost always charge members a fee. The cost of these fees depends on the app’s configuration, and the fee is typically a percentage taken out of the funds sent.

Can I send instant payments from my Labor CU account?

Currently, you can’t send money from your Labor CU account using RTP.

 

1 We can accept Real-Time Payments to your checking, savings, and Money Market accounts. However, such payments cannot be applied to Labor Credit Union loan products. Transmission of funds through RTP are only available between accounts located in the US. This applies even if you are receiving a payment on behalf of another person. All persons who receive, or benefit from an RTP transaction must also reside in the US. Transfers of money you receive through RTP will generally be available immediately upon receipt of the funds. Although Labor CU does not charge fees to receive, the sending bank could charge the sender a fee.