September 08, 2021

Same Day ACH at Five: Strong Growth and a Bright Future


Jane Larimer

Jane Larimer

President and CEO


New innovations often come and go. Electric typewriters and adding machines had their day. But some take hold and grow roots. Same Day ACH is a perfect example.

When Same Day ACH got its start in 2016 it was for credits only. In the first six processing days that September there were 1.3 million payments worth a total of about $1.5 billion. Not a bad start by any means, but once those roots started growing nice and deep, things certainly took off.

In the first half of 2021, there were more than 291 million Same Day ACH payments—debits and credits—transferring $439 billion. Those figures are up 86.3% and 123% respectively from the first half of 2020. 

As Same Day ACH marks its fifth anniversary in September, the tally since launch stands at 1.2 billion payments transferring $1.5 trillion.

Those are some deep roots grown in barely five years. And it didn’t happen by standing still. 

Every year since 2016, Nacha, both ACH Operators, and financial institutions have made an enhancement to Same Day ACH, including adding debits, expanding the hours to submit payments, and increasing the dollar limit for each payment. That nurturing of Same Day ACH has proven fruitful.

Businesses using Same Day ACH cite a number of use cases. Payroll is a huge one, and not only for emergencies and corrections. Companies can take more time to gather their payroll data before sending it to their financial institution on payday using Same Day ACH. It also lets those companies hold on to funds a little longer. 

Insurance claims and disaster relief payments get to those who need them much faster using Same Day ACH. Business-to-business (B2B) payments can be made the day they’re due. Consumers can quickly transfer funds where they’re needed, including bill payments and digital wallets. 

And one thing that makes Same Day ACH work so seamlessly for all of these uses is its ubiquity. Any accountholder at any U.S. financial institution can receive a Same Day ACH payment. 

Additional enhancements are coming. In March 2022, the payment limit increases again, rising to $1 million and making Same Day ACH an option in even more payment scenarios. 

Faster payments are here to stay. Same Day ACH is proud to be doing its part to keep the nation’s payments moving down the fast lane.