May 03, 2024

Nacha Statement on the Federal Reserve's Requesting Comments to Expand the Operating Days of the National Settlement Service to Include Weekends and Holidays

ACH Network Logo with background

Nacha released the following statement from Jane Larimer, President and CEO, on the Federal Reserve requesting comments to expand the operating days of the National Settlement Service to include weekends and holidays:

“Nacha applauds the Federal Reserve requesting comments to expand the National Settlement Service's operating days to include weekends and holidays. Nacha and its members have supported such an expansion since the beginning of the Federal Reserve’s payment system improvement initiative.

“American consumers and businesses rely on the ACH Network for critical payments, such as payroll Direct Deposits, and expanding the National Settlement Service’s operating days could enable the ACH Network to provide even faster availability of funds to some workers. Americans who work on weekends and holidays could get paid by Direct Deposit sooner than the next banking day. 

“Nacha and our members will provide thoughtful feedback to the Federal Reserve on this request for comment. If adopted, we will collaborate with the Federal Reserve, The Clearing House, financial institutions and other stakeholders to utilize this new opportunity for the ACH Network.”