In short
- Juicyway now supports FedNow, a US payment system run by the Federal Reserve that moves money 24 hours a day, every day.
- When the sender's bank or payment provider routes a dollar transfer through FedNow, it can arrive in your Juicyway USD account in as quickly as a few seconds, including on weekends.
- Your USD account is a real US account with its own account number and routing number, so dollars reach it the same way they reach any US bank account.
- When the sender's bank isn't on FedNow, your dollars still arrive by the usual routes, just not as fast.
Until now, dollars reaching your USD account depended on US banking hours, so a transfer sent late in the week might not arrive until the next working week. When the sender's bank supports FedNow, that same transfer can reach you far faster, even on a weekend.
What FedNow is
FedNow is a payment system run by the US Federal Reserve. It moves money in seconds, 24 hours a day, every day of the year, and it's a newer option alongside the older US routes, ACH and wire. More US banks join it over time.
What changes for your USD account
Your Juicyway USD account has own US account number and routing number. Dollars reach it electronically, the same way they reach any US bank account. Until now that meant ACH or a wire. Now it can also mean FedNow.
When the sender's bank or payment provider routes a dollar transfer through FedNow, it can arrive in your USD account in as quickly as a few seconds, any day of the week, including on weekends. You don't wait for US banking hours or for the next working day.
Once the dollars are in your USD account, you keep them in dollars or convert them to naira, or to another currency you keep on Juicyway, at the rate the app shows.
When the fast route applies
How fast the dollars reach you depends on the sender. A transfer arrives in seconds when their bank or payment provider is set up for FedNow. When it isn't, the dollars still reach you through ACH or a wire, just not as quickly. Either way, the money arrives in the same USD account.
Key terms
FedNow: A payment system run by the US Federal Reserve. It moves money in seconds, 24 hours a day, every day.
Routing number: A nine-digit number that identifies a US bank. Your Juicyway USD account has its own, alongside a US account number.
ACH: A US system for moving money between banks. It's slower than FedNow, taking up to two banking days, though usually less.
Wire: A same-day bank-to-bank transfer within the US.
Frequently asked questions
Do I need to set anything up to receive dollars through FedNow?
No. Your USD account already has the account number and routing number a sender needs. Whether a transfer comes through FedNow depends on the sender's bank or payment provider.
What happens when the sender's bank doesn't use FedNow?
The dollars still arrive, through ACH or a wire. They reach the same USD account, just not in seconds.
Is this for receiving or sending dollars?
This is about receiving. When someone sends dollars to your Juicyway USD account and their bank routes the transfer through FedNow, the money can arrive in as quickly as a few seconds.
Can dollars arrive on weekends?
Yes. FedNow is available every day of the year, so a transfer routed through it can arrive on a weekend, not only on working days.
