Same Day ACH Resource Center

123 results

Federal Reserve Same Day ACH Resource Center

September 23, 2015

The Federal Reserve Bank Services' Same Day ACH Resource Center includes important information about the impact of Same Day ACH on FedACH® Services.

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On Sept. 23, 2015, the Federal Reserve Board announced its approval (Off-site Link) of changes to FedACH Services in support of NACHA’s Same Day ACH Rule that was passed in May 2015.

Guidance

It's Time for the Industry to Embrace Phased-In, Same Day ACH

August 17, 2015
Pat Thelen, executive vice president of Treasury Management, Capital Markets and International Banking at UMB Bank, calls for the industry to embrace phased-in, Same-Day ACH. -- Banking is the sector at the highest risk of game-changing market shifts. According to the Millennial Disruption Index, millennials believe payments innovation will come from outside their bank, with nearly half showing more confidence in what startups and technology companies add to payments than what their banks do.
Article

Checklists for Implementation

July 1, 2015

Same Day ACH implementation checklists for Originating Depository Financial Institution (ODFIs), Receiving Depository Financial Institution (RDFIs) and Third-Party Senders.

Guidance

NACHA Membership Approves Same Day ACH

May 19, 2015
The NACHA voting membership approves Same Day ACH, an amendment to the NACHA Operating Rules, which will move payments faster. -- Industry Comes Together to Move Payments Faster on the ACH Network HERNDON, Va., May 19, 2015 - NACHA —The Electronic Payments Association ® announced today that its voting membership approved Same Day ACH, an amendment to the NACHA Operating Rules to move payments faster.
Article

Optional Same Day ACH Indicator

May 19, 2015

An ODFI could, at its discretion, require one or more of its Originator to use discretionary data within the Batch Header Record to further show intent for same-day settlement.  While each ODFI could determine on its own how to accomplish this, practically speaking, a standardized approach would be more efficient for ODFIs and their Originators to use, even as it remains optional from an ODFI’s perspective. This Guidance details the standardized approach to the optional indicator.

Guidance

Why A Former Fed Exec Is On Board With Same-Day ACH

February 3, 2015
Richard R. Oliver, former executive VP, Federal Reserve Bank of Atlanta, denotes the robust functionality that has been created with the Same Day ACH through the addition of two new settlement windows and settling at the end of the business day as a deadline for funds availability.  -- Several years ago I had the opportunity to fulfill a bucket list item by playing golf with my son at St. Andrews in Scotland. We teed off in 45-degree weather with a 20 mph wind and spitting rain. Perfect!
Article