One of the primary use cases for Same Day ACH is for Direct Deposit of payroll. This document provides guidance for employers and payroll professionals on how to effectively use Same Day ACH for faster payroll payments.
NACHA and the RPA’s FCC Same Day ACH group have developed a template letter for ODFIs to use to communicate with any Originators that need to review and revise their usage of the Effective Entry Date field to avoid inadvertent Same Day ACH entries.
A simplified four-step checklist that Originating Depository Financial institutions can use to make sure they are prepared for Phase 1 of Same Day ACH.
A simple four-step checklist that corporations can implement to make sure they are prepared for Phase 1 of Same Day ACH.
A simple four-step checklist that payments processors can use to make sure they are prepared for Phase 1 of Same Day ACH.
In a follow up letter to CEOs of ACH software and service providers, NACHA’s President and CEO Janet Estep says that Same Day ACH goes live in 100 days. She asks the CEOs to ensure that they are supporting the readiness of all their clients to send and receive Same Day ACH payments.
An article from the American Payroll Association's June 2016 edition of PAYTECHmagazine that breaks down the benefits of Same Day ACH for all parties — employers, payroll processors, FIs, and employees. The article goes into detail on specific aspects such as termination pay, hourly workers, and reversals.
Russ Oatman, Chairperson of NACHA, speaks about the value of Same Day Payments from the perspective of his role as President of the First National Bank of Omaha. He sees a stronger revenue opportunity in business payments, and plenty of room in the marketplace for real-time and same-day to co-exist as complementary solutions. Unlike Steve, however, Russ is in the “slow ramp” camp.