Displaying 21 - 40 of 46

Tag: Same Day ACH

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The IRS used Same Day ACH to send some 430,000 Advance Child Tax Credit (ACTC) payments.
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As Same Day ACH marks its fifth anniversary, Nacha President and CEO Jane Larimer looks at some milestones and what's ahead.
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In the second quarter of 2021, Same Day ACH payment volume was 148.7 million, an increase of 82% over the same time in 2020. Those payments transferred $250 billion, up 115% from a year earlier. 
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A survey by RMAG found no increase in fraud attributable to the later hours for submitting Same Day ACH payments.
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Robust growth continued for the modern ACH Network in the second quarter of 2021. Payment volume climbed 9.9%, with particularly strong growth in business-to-business (B2B) payments.
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The third window for submitting Same Day ACH payments to the ACH Network has quickly gained acceptance among financial institutions, according to new survey results conducted by Nacha and its Risk Management Advisory Group (RMAG).  
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Nacha’s Risk Management Advisory Group has been evaluating potential risk increases and decreases due to Same Day ACH. It has consistently found no justification to fears that Same Day ACH would introduce massive amounts of risk.
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Same Day ACH payments will be further enhanced with a new $1 million per transaction limit. Nacha members approved a measure to increase the per-payment maximum from the current $100,000 to $1 million effective March 18, 2022. It will apply to all eligible Same Day ACH payments, including credits and debits for both businesses and consumers.
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It’s anything but a quiet Friday at Nacha. There are some big changes taking effect today (March 19) at the ACH Network: Same Day ACH, Account Validation and economic impact payments.
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Nacha has created a chart to help financial institutions using the ACH Network understand the deadlines for both Same Day ACH and traditional ACH. It is available for download as a PDF.

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The third Same Day ACH processing and settlement window will take effect on Friday, March 19. As of that date, files of Same Day ACH payments may be submitted by an ODFI to its ACH Operator up to two hours later in the day. Are you ready?

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image of same day infographic

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image of same day infographic

Article

File holders, you know who you are, but for those who don’t, allow us to explain. 

Article

Nacha is requesting comment on a proposal to increase the dollar limit for Same Day ACH payments. 

Product

By Richard Oliver & George Warfel Jr.

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Resource
Nacha has issued guidance regarding the $100,000 per transaction limit on Same Day ACH transactions. 
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Nacha has released ACH Network results for the first quarter of 2020.
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Starting today the Same Day ACH per payment dollar limit jumps from $25,000 to $100,000.