The volume growth of the RTP network, operated by The Clearing House, is driven by consumers looking for instant access to their funds to help balance household budgets. For example, tax refund disbursements for federal, state, and local taxes enabled by financial institutions and tax preparation firms increased 78% in the first four months of 2026, compared to the same period in 2025.

The new single-day value record highlights increasing adoption of the RTP network for higher-value, time-sensitive transactions among financial institutions and corporate treasury teams. Organizations are using the RTP network for a range of higher-value use cases including cash concentration, portfolio rebalancing, and large payments to suppliers or vendors. With immediate settlement and a $10 million transaction limit, the RTP network enables institutions to move significant sums in an instant while maintaining full visibility and control.

“From helping consumers access tax refunds instantly to enabling banks and corporates to move large sums with certainty, the RTP network continues to deliver value across the entire financial ecosystem,” said Pat Antonacci, Chief Product Officer for The Clearing House. “With instant payments approaching $500 billion in value each quarter, more than 1.5 million transactions each day, and new use cases such as insurance and healthcare disbursements, instant payments over the RTP network are the new standard for instant, reliable, and guaranteed money movement in the United States.”

Consumer and Bank Adoption Accelerates

The 78% increase in instant tax refund payments reflects a straightforward consumer preference: access to money now. For households managing expenses between paychecks, or small businesses timing vendor payments around a tax refund, the demand for cash flow is a key driver. By receiving refunds in seconds rather than days or weeks, consumers and businesses are better equipped to make time-sensitive financial decisions.

These milestones reflect the burgeoning role of instant payments as a foundational tool for real-time financial management, liquidity optimization, and risk reduction across the U.S. economy. Together, these trends highlight the RTP network’s position as critical infrastructure powering both everyday financial activity and business innovation.