![<p>Federal Reserve Financial Services logo, 1992 (via <a href="https://fraser.stlouisfed.org/title/466/item/530598?start_page=9">FRASER</a>)</p>](/https/www.federalreservehistory.org/-/media/images/payments_720x450.jpg)
The Federal Reserve works to promote a safe, efficient, and accessible system for U.S. dollar transactions.
![Still image from "A Day at Federal Reserve Bank of Cleveland," an informational film produced in 1950](/https/www.federalreservehistory.org/-/media/images/cashservices-720x450.jpg)
Cash Services
The Federal Reserve System issues and distributes the nation’s currency
![Drawing of magnetic tapes, the initial media for communicating Automated Clearing House payments. (<a href="https://fraser.stlouisfed.org/title/6477/item/612994">Source</a>: Northwestern Banker, August 1975: 76)](/https/www.federalreservehistory.org/-/media/images/ach_720x450.jpg)
Automated Clearing House Payments
The Federal Reserve began operating an electronic payment Automated Clearing House system in the 1970s to provide a substitute for paper checks.
![The Federal Reserve Leased Wire System in 1953, from the Federal Reserve Bank of Richmond 1953 Annual Report](/https/www.federalreservehistory.org/-/media/images/fedwire_720x450.jpg)
Fedwire
Since 1915, the Federal Reserve has operated a wire payment system, known today as Fedwire.
![A diagram of the flow of checks, from the Federal Reserve Bank of St Louis <em>Review</em>, February 1962.](/https/www.federalreservehistory.org/-/media/images/check_720x450.png)
Check Payments
Congress charged the Federal Reserve with using the nationwide scope of its operations to improve the check payments system