Request for Information - Faster ACH Topics
Nacha is requesting industry information and perspectives on other topics that can generally be considered “Faster ACH” but are not specifically Same Day ACH topics. These topics are not proposals to change the Nacha Operating Rules; but industry information and perspectives could lead to Rules proposals.
- 2-day ACH credits
- Encouraging same-day returns
All ACH Network participants are encouraged to provide their thoughts on these topics. Responses on these RFI topics are requested by Friday, December 13, 2024.
Please review the survey questions prior to beginning your response so that you can gather information and comments from all impacted areas of your organization before responding to the questions. You can download the materials on the left side of the page and respond online (surveymonkey link).
Download materials: Executive summary, Presentation, ACH Participant survey.
Details
2-Day ACH Credits
- Currently, the Nacha Rules allow an ACH credit to have an Effective Entry Date (the date on which the Originator intends settlement to occur) that is the same day, 1 Banking Day in the future (1-day or next-day credit), or 2 Banking Days in the future (2-day credit) ACH debits can have an Effective Entry Date that is the same day or 1 Banking Day in the future (1-day or next-day).
- As of this writing, the U.S. Treasury has proposed to eliminate its use of Effective Entry Dates that are 3 and 4 banking days in the future.
- The longer-term trend has been to shorten the number of future days allowed in an ACH Entry, including the elimination of 3-day ACH payments and 2-day ACH debits; and introducing Same Day ACH payments in 2016.
- In 2023, Nacha estimated that 80% of all ACH payments settle in one day or less; the other 20% include 2-day ACH credits.
Should the Nacha Rules be changed to require ACH credits to settle either 1 banking day in the future or on the same banking day, just as with ACH debits? Nacha seeks industry input on the potential benefits and impacts of such a change.
Encouraging Same Day Returns
- Since the inception of Same Day ACH, the same-day processing windows have been available to process ACH returns. All returns have been and are eligible for same-day processing, regardless of whether the underlying forward entry was a Same Day Entry or was eligible for same-day processing.
- Anecdotally, some FIs and other industry participants report low usage of same day return processing, despite readily acknowledged benefits to both RDFI and ODFIs (as well as their customers).
Nacha seeks industry information on why RDFIs do not better utilize same-day return processing, as well as what the industry could do to promote and encourage same-day return processing.
Download materials: Executive summary, Presentation, ACH Participant survey.
