RMAG Survey Finds Quick Acceptance of Third Window for Same Day ACH

The third window for submitting Same Day ACH payments to the ACH Network has quickly gained acceptance among financial institutions, according to new survey results conducted by Nacha and its Risk Management Advisory Group (RMAG).  

The extension of Same Day ACH hours began in March 2021, and within 60 days Nacha and RMAG conducted surveys of both Originating Depository Financial Institutions (ODFIs) and Receiving Depository Financial Institutions (RDFIs) on various topics related to the new window. Banks and credit unions of varying sizes were included to gather a cross section of financial institutions. Half of the respondents have assets of less than $500 million; an additional 35% had assets of less than $5 billion. 

Among ODFIs, all said they were handling business-to-business (B2B) payments in the third Same Day ACH window. Payroll was cited as a use by 87%, while 75% reported customers using it for bill payments. 

The combined average daily value of debits and credits originated in the third window ranged from approximately $1 million to $97 million. Additionally, almost all expect clients to originate Same Day ACH payments above $100,000 when that current limit increases to $1 million next year. 

Among RDFIs, 86% reported consistently receiving Same Day ACH payments in the third window. 

When asked about the impact the third window is having on volume in the existing, second Same Day window, two-thirds of RDFIs and half of ODFIs said that volume was about the same; 19% of RDFIs and nearly 13% of ODFIs reported continued second window volume growth.

Additional survey results on risk management topics related to the new Same Day ACH window will be reported in a future article.