NACHA today launched Phase 1 of its same-day ACH initiative, which allows for the sending and receiving of ACH credit transactions. All banks are now required to accept same-day ACH transactions and will receive a per-transaction fee for doing so. While originating same-day ACH payments is optional, NACHA said it expects that many banks will opt to begin sending same-day transactions as well.
Same-day ACH credit transactions will now post at 1:00 p.m. and 5:00 p.m. ET, depending on when the ACH file is received for processing. All ACH return items will post at the next available posting time or following the settlement of the associated forward transaction. Funds associated with same-day ACH credits must be made available to the receiving customer by the receiving bank’s processing day. Transactions that are in excess of $25,000 or are cross-border International ACH Transactions are not eligible for same-day settlement.
The next phase of same-day ACH will launch in September 2017 and will introduce faster processing and settling of debit transactions in addition to credit transactions. For more information, contact ABA’s Steve Kenneally.