“It only works between Jack Henry® banks.”
“This seems risky.”
“Isn’t this just ACH with a fresh coat of paint?”
When it comes to Jack Henry Rapid Transfers, I’ve heard it all. It’s natural – any time a genuine game-changer hits the faster payments space, the assumptions start flying. But it’s time to clear the air.
The reality of Rapid Transfers is far more powerful than the rumor mill suggests, and it’s easily one of the most powerful additions we’ve brought to digital banking in years.
What Jack Henry Rapid Transfers Is and How It Works
At its core, with Jack Henry Rapid Transfers, users can move money nearly instantly between any two accounts they own – as long as each account has a Visa® or Mastercard® debit card attached.
That means checking accounts, fintech wallets, investment accounts, neobanks, and even business accounts can all be connected if the card rails are there. And because these are me-to-me transfers, users already know the accounts, the cards, and the destinations. No awkward lookup required.
It’s also incredibly flexible for both personal and business needs.
Need to shift funds into a fintech app? Easy. Are you a small business owner moving money from a personal account to cover a vendor payment? Done. Want to top off a spend wallet or pull money back to your primary checking account? Seconds.
Why Rapid Transfers Are Misunderstood in Faster Payments
Whenever something enters the market that community banks and credit unions haven’t traditionally offered, misunderstandings follow.
Jack Henry Rapid Transfers is new, it’s fast, and it looks different from what most folks are used to, so it’s easy for misconceptions to form. The good news? Most of these narratives fall apart once you understand what’s actually happening behind the scenes.
How Rapid Transfers Use Secure Debit Card Rails for Speed
You don’t need an engineering degree to get how Jack Henry Rapid Transfers works.
The underlying engine is genuinely impressive: Through Jack Henry’s integration with Moov, the Moov Wallet, Mastercard Move, and Visa Direct, we’re able to transfer money nearly instantly using debit card rails instead of ACH. That's what makes these transfers so fast.
And because Jack Henry Rapid Transfers runs on the same trusted debit networks your cardholders already use every day, the security behind it is just as strong.
Moov and Jack Henry validate that the name on the external debit card matches the name on the user’s account. Adding a new card triggers step-up authentication inside the Banno Digital Platform™ along with a quick 2FA code to confirm it’s really them. Jack Henry Rapid Transfers is also treated as a high-risk action within digital banking, so it’s monitored closely. And behind the scenes, Moov’s cloud-native processing engine keeps an eye on activity across its entire network, not just your financial institution, providing an additional layer of protection that strengthens the whole system.
And here’s a big one: as long as your financial institution enables the required high-risk actions, Moov indemnifies participating banks and credit unions.
This stands in sharp contrast to other faster payment options, where some financial institutions have experienced fraud losses. Rapid Transfers was built to avoid that story entirely.
When Faster Payments Matter for Your Accountholders
ACH absolutely has its place.
If you don’t need speed – and many times you don’t – it’s a fantastic, free option that gets the job done. But that’s not the whole picture anymore. Today’s accountholders are juggling a mix of fintech accounts, digital wallets, micro‑savings tools, side‑hustle income streams, and even small‑business cash flow needs. Their financial lives are spread across more platforms than ever, and they expect money to move just as quickly as everything else in their day‑to‑day digital world.
With Jack Henry Rapid Transfers, your financial institution stays at the center of all that movement, even when accountholders’ balances live in half a dozen different places. Faster payments is the pace of modern banking – and now you can match it.
How Rapid Transfers Give Community Financial Institutions Faster Payments Power
Instant me-to-me transfers across debit rails have, until now, largely been the domain of big banks and fintechs.
Jack Henry Rapid Transfers changes that. Because Jack Henry built this directly into the Banno Digital Platform, community banks and credit unions can offer the exact same capability directly through their banking app, without needing to partner with an outside fintech or take on additional operational overhead. If you’re a financial institution using Banno, Jack Henry Rapid Transfers gives you an immediate competitive edge.
There’s no cost to turn it on, no added risk when configured properly, and strong demand from both consumers and businesses who expect fast, digital-first money movement.
It also helps your financial institution remain the hub of your accountholders’ financial lives, even when their money lives across a variety of external apps, accounts, and wallets. In short, if you're on Banno, there’s truly no reason not to activate Rapid Transfers.
Why Jack Henry Rapid Transfers Matter for Modern Faster Payments
Jack Henry Rapid Transfers is one of the most exciting steps forward in faster payments for community financial institutions. It's fast, it’s secure, it’s user-friendly, and it puts your financial institution right where you want to be: at the center of your accountholders’ financial lives.
Ready to Get Started?
Learn more about Jack Henry Rapid Transfers and how to enroll via the Banno Digital Platform.
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