NACHA Updates and Upcoming Changes
Same-Day ACH: Moving Payments Faster (Phase 3)
Beginning March 16, 2018, RDFI's will be mandated to make funds available from same-day ACH credits (such as payroll direct deposits) to their depositors by 5:00 pm at the RDFI's local time.
ODFI's are able to submit files of same-day ACH payments through two new clearing windows provided by the ACH operators:
- A morning submission deadline of 10:30 am ET, with settlement occurring at 1 pm ET.
- An afternoon submission deadline of 2:45 pm ET, with settlement occurring at 5 pm ET.
Virtually all types of ACH payments, including both credits and debits, are eligible for same-day processing. Only international transactions (IAT's) and high-value transactions above $25,000 are not eligible.
Expanded Access to Same Day ACH
- An increase to the speed of funds availability for certain Same Day ACH and next-day ACH credits.
- An increase of the Same Day ACH per-transaction dollar limit to $100,000 (up from $25,000).
- Allow Same Day ACH transactions to be submitted to the ACH Network for an additional two hours every business day.
FOR MORE INFORMATION, CLICK HERE TO VIEW THE NACHA OPERATING RULES AND BULLETINS, OR CONTACT YOUR CORPORATE TREASURY SERVICES SALES REPRESENTATIVE.