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This innovation, delivered through NBID's suite of next-generation core integrations, ensures depositors no longer lose days of interest.
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Press release NBID Pioneers Real-Time Transaction Handling for the Reciprocal Deposit Market |
This innovation, delivered through NBID's suite of next-generation core integrations, ensures depositors no longer lose days of interest. NBID has moved the roughly $500bn reciprocal market from T+1 to T accrual, a major milestone for the U.S. banking system. |
| Read the full release → |
The new capability allows depositors at member banks to earn interest on the same day they deposit funds, which has historically been missed by the T+1 processing offered by the integrations of most providers. The technology development was led by ModernFi, NBID’s network operator. |
“We are thrilled to work with NBID to build a product that truly improves the experience for our customers. Real-time transaction handling is a significant innovation for our depositors, while also taking work off our team. It is a win-win.” Jason Hyska
CEO, Sturgis Bank |
“As a bank-owned network, NBID’s mission is to put banks and their depositors first. Real-time transaction handling is the latest enhancement built for that purpose.” Matteo diMayorca
Director of Product, ModernFi |
| Read the full release → |
The bank-owned network Contact us → |
| NBID LLC is not a bank. Deposit insurance covers the failure of insured institutions, not NBID. Deposits are placed at FDIC-insured network institutions in amounts designed to be eligible for pass-through insurance up to $250,000 per depositor, per institution, per ownership category. Certain conditions must be satisfied for “pass-through” FDIC deposit insurance coverage to apply. A list of participating banks appears at https://www.nbid.com/bank-list. |
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