“U.S. Bank is using the Real-Time Payment (RTP) network to deliver funds to more than 6,000 auto dealers immediately, so when a customer pays with a loan, the sale hits the dealership’s bank account in real time.  “While the traditional ACH payment method for funding auto loans can take several days – especially when sales are made outside of banking hours – real-time payments to dealers are fast, secure and available seven days a week, including holidays,” the bank said in its announcement.  ACH (Automated Clearing House) networks date back to the early 70s. The U.S. has two — one operated by the Federal Reserve and the other by The Clearing House (TCH), owned by some of the world’s largest banks. TCH introduced its RTP in 2017; the Federal Reserve, after several years of study and discussion, plans to launch its own version in 2023. These are the first new payment rails in the United States in 40 years.   Although the TCH network is open to all federally insured U.S. depository institutions, some smaller banks and credit unions are reluctant to use a system owned by the large banks.”