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.
Will Risk-Averse Banks Grow to Trust Faster Payment Solutions?
Speed Boost - What Does Faster Payments Mean for Business
Same Day ACH Origination: Delivering a Competitive Advantage
Community banks and credit unions remain diligent in their efforts to stay competitive in the evolving financial services industry.
“If your franchise means anything to you, you have to be relevant in payments,” said Bob Steen, CEO, Bridge Community Bank. “If you lose your payment relationship, you don’t have a franchise, because your customers can get a mortgage online, a car loan from a car dealer, and so on. If they don’t need you for payments, they don’t need you.”
Download the case study for more insights from Bridge Community Bank's experience.
Same Day ACH today: UMB Shares Its Experience to Date
New Report: US Finds Its Faster Payments Future
Faster Payments are finally live in the U.S. with Same Day ACH, but that’s just the start. For the latest Faster Payments Tracker™, PYMNTS spoke with ACI’s Barry Kislingbury, director of solution consulting, and WA Proctor, vice president and product line manager, to compare the U.S. versus the U.K. and what each can learn from the other. Find that, along with headlines from around the space, in the latest Tracker.
Same Day ACH Transaction Volume October 2016
Same Day ACH, an industry initiative to move payments faster, was responsible for 3.8 million transactions in October, totaling $4.98 billion with an average transaction amount of $1,303. This data shows strong use of Same Day ACH and is consistent with NACHA’s expectations based on anticipated use cases and industry dialogue. It also demonstrates how Same Day ACH serves as a new ubiquitous U.S. faster payment option that supports marketplace demands.
Can The Insurance Industry Get Aboard The Faster Payments Train?
Same Day ACH: Your Solution to Due Date Tax Payments
As of September 23, 2016, Same Day ACH can be an option for your tax payers. While federal taxes will not be eligible for same-day payments yet, state tax agencies can take advantage of this new payments solution. Financial institutions around the country will be able to receive Same Day ACH files, and many banks and credit unions will offer Same Day ACH origination services, allowing ACH credit payments to be made and settled on a single business day.
Same Day ACH Urgent Claims Case Study
As of Phase 1 implementation, Safety Insurance will provide Same Day ACH for customers expecting refunds or claim payments in emergency situations. Same Day not only offers better customer service, it creates an added business advantage to the company's bottom line.
Helping Bring Equal Access To Faster Payments
Case Study: Testing the Same Day ACH Opportunity
Treasury Software enables solution that allows banks to preview Same Day ACH functionality in their own infrastructures, supporting and ecouraging readiness in advance of the Sept. 23, 2016, Same Day ACH implemantion date.
Guidance for Employers and Payroll Professionals on Same Day ACH Direct Deposit
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.