CheckFree launched its Electronic Bill Payment service in 1990. Consumers could register billers with CheckFree or with a CSP. Each evening, CheckFree processed all payments received from consumers, verified that money existed to cover payments as they cleared through a bank, and then electronically notified the Federal Reserve Board to electronically transfer appropriate amounts from the consumer’s bank account. The biller received the funds, along with any remittance attachments, through the combined efforts of the CSP, a regional ACH, the Federal Reserve, and CheckFree.