NEACH Supports Same Day ACH Expansion

By now you may have heard that NACHA’s voting members supported the expansion of Same Day ACH. After discussion with our Board of Directors and considering the broad feedback from our membership, NEACH voted in favor of these new rules. While there may be a few operational hurdles for financial institutions to implement these changes, ultimately, NEACH staff, as well as its Board and membership, felt these enhancements were critical in supporting the future of payments.

Specifically, this expansion will enhance Same Day ACH to:

1. Allow Same Day ACH transactions to be submitted to the ACH Network for an additional two hours every business day, created by a new ACH Operator processing window -- Implementing Sept. 18, 2020 – This new window will allow Same Day ACH files to be submitted until 4:45 p.m. ET (1:45 p.m. PT).
    
2. Raise the Same Day ACH per-transaction dollar limit to $100,000 -- Implementing March 20, 2020 -- This change makes way for larger transactions, including B2B payments, claim payments and reversals for a larger pool of transactions, to be processed on the same day.
    
3. Increase the speed of funds availability for certain Same Day ACH and next-day ACH credits -- Implementing Sept. 20, 2019 -- This means that funds from Same Day ACH credits processed in the existing, first processing window will be made available by 1:30 p.m. RDFI's local time. Funds from non-Same Day ACH credits will be available by 9:00 a.m. on the Settlement Date, if the credits were available to the RDFI by 5:00 p.m. on the previous day (i.e., apply the existing “PPD rule” to all ACH credits).
    

As you’re digesting these new rules, if you have any questions about what they mean for your institution, please feel free to reach out to me or one of the NEACH team. Our goal is to continue to act as a resource to financial institutions to ensure a smooth path to implementation.
 

For additional details, please see the full press release from NACHA.