---
kind: "section"
citation: "12 C.F.R. § 210.45"
title: "12"
number: "210.45"
heading: "Payment orders."
url: "https://uscodex.org/cfr/12/210.45"
---

# §210.45. Payment orders.

- (a) **Rejection.** A sender shall not send a payment order to a Federal Reserve Bank unless authorized to do so by the Federal Reserve Bank. A Federal Reserve Bank may reject, or impose conditions that must be satisfied before it will accept, a payment order for any reason.
- (b) **Selection of an intermediary bank.** For an interdistrict transfer through the FedNow Service, a Federal Reserve Bank is authorized and directed to execute a payment order through another Federal Reserve Bank. A sender shall not send a payment order to a Federal Reserve Bank that requires the Federal Reserve Bank to send a payment order to an intermediary bank (other than a Federal Reserve Bank). A sender shall not send to a Federal Reserve Bank a payment order through the FedNow Service that instructs use by a Federal Reserve Bank of a funds-transfer system or means of transmission other than the FedNow Service, unless the Federal Reserve Bank agrees with the sender in writing to follow such instructions.
- (c) **Execution date and payment date.** A sender shall not issue a payment order through the FedNow Service that instructs a Federal Reserve Bank to execute the payment order or to pay the beneficiary on a FedNow funds-transfer business day that is later than the funds-transfer business day on which the order is received by the Federal Reserve Bank, unless the Federal Reserve Bank agrees with the sender in writing to follow such instructions.

## Notes

### Source

Source: Reg. J, 87 FR 34362, June 6, 2022, unless otherwise noted.

### Authority

Authority: 12 U.S.C. 248(i), (j), and 248-1, 342, 360, 464, 4001-4010, and 5001-5018.

### Source

Source: 45 FR 68634, Oct. 16, 1980, unless otherwise noted.