Same Day ACH: The Next Enhancement is Around the Corner
The new third window for Same Day ACH is coming in March, meaning the time to prepare is now. At a recent ACH Town Hall, representatives of Nacha and the two ACH Operators - the Federal Reserve and The Clearing House - gave an update on what you need to know.
(Podcast) Same Day ACH in 2020: Constant Growth and Continued Improvements
In a recent podcast interview with PaymentsJournal, Nacha’s Michael Herd discussed how and why Same Day ACH volumes have been growing and what use cases Nacha’s faster payment option supports. The podcast is available for download.
A Processor Call to Action: Phase 2
New opportunities and potential offerings that you, as a Processor, can provide to and support your customers with.
An RDFI Call to Action: Phase 2
New opportunities for you, as well as obligations, as a Receiving Depository Financial Institution.
Preparing for Same Day ACH Debits - Testing Tips for Financial Institutions
To ensure smooth implementation of Same Day ACH debits, conduct appropriate end-to-end testing with your business partners.
ACH Operations Bulletin – Same Day ACH and Debit Processing
This ACH Operations Bulletin provides information to Originating and Receiving Depository Financial Institutions, Originators, Third-Party Senders, and software and processing vendors on important aspects of ACH debit processing in a same-day environment. Even those not planning to use same-day processing for ACH debits should take reasonable care to prevent unintentional same-day ACH debits.
How Protection 1 Puts Customers First with the Same Day ACH Solution
For financial institutions like UMB Bank, efforts to communicate, educate and prepare its clients for the transition to Same Day ACH helped ensure businesses like Protection 1 are satisfied. Guaranteeing that processes can be implemented smoothly and that clients feel like the burdens do not outweigh the benefits make adopting a new faster payment option worth pursuing.
(Revised) Guidance for RDFIs on Meeting Phase 3 Requirement to Make Funds Available by 5:00 pm Local Time
Effective with Phase 3 of Same Day ACH (on March 16, 2018), RDFIs must make funds available from Same Day ACH credits for withdrawal (including cash withdrawal at the teller or ATM as applicable) by 5:00 p.m. at the RDFI’s local time. This time is a “no later than” deadline by which funds must be available. RDFIs always have discretion to make funds available earlier. The revised guidance also addresses the applicability of Excused Delay to the handling of late delivery of same-day files.
Complimentary webinar recording — Same Day ACH for Businesses
Treasury managers can access this 30-minute recording that focuses on Same Day ACH needs and messages for businesses. Watch here via Adobe Connect.
Taking The Y2K Fear Factor Out Of Same Day ACH
For this month’s Tracker Feature Story, PYMNTS recently caught up with Joe Casali, senior vice president of operations and IT for the New England Automated Clearing House (NEACH), on how his organization is working to help banks and other institutions prepare for the changes that come with the availability of Same Day ACH.
Healthcare Staffing Platform Leverages ACH Payments API
Updated: Same Day ACH for Businesses Essentials Guide
The "Same Day ACH for Businesses Essentials Guide" is a suite of resources that provide key guidance on Same Day ACH opportunities, benefits and value to businesses, and action plans for sending and receiving same-day payments. The "Essentials Guide" includes a PowerPoint presentation, an infographic, and three separate “essentials” documents outlining Same Day ACH implementation considerations for payables and receivables processes, including Hire-to Retire, Order-to-Cash, and Procure-to-Pay.