Comment by toomuchtodo

I assume they will support FedNow instant payments as they’re rolled out over the next 18-24 months. Those payments cost the financial services provider 5 cents per transaction up to between $100k and $500k (depending on configuration with the Fed). They settle immediately 24/7/365. Wires via FedWire will be reserved for amounts between $500k and $50M, which doesn’t sound like a $20 fee would be unreasonable for to account for human review of the transfer.

Edit: I didn’t even know Mercury doesn’t charge for sending wires. As a customer, I’m delighted.