Real-Time Gross Settlement Systems (RTGS)

are fund transfer systems designed to move high-value and wholesale payments between banks instantly. RTGS are usually controlled by the central bank of a country. Payments made via a RTGS are settled as soon as they are processed, and once processed, payments are final and irrevocable. As these payments are high value, they do not need to be netted or bundled, meaning the transaction is settled on a one to one basis in real-time.