Tag: Same Day ACH
HERNDON, Virginia, Oct. 17, 2023 – Ongoing adoption of Same Day ACH and the continued increase in business-to-business (B2B) payments led the ACH Network to robust results in the third quarter of 2023.
HERNDON, Virginia, July 25, 2023 – The use of Same Day ACH payments grew significantly in the first half of 2023, powering the modern ACH Network to help meet the nation’s needs for faster payments, Nacha reported today.
Herndon, VA – Today, Nacha President and CEO Jane Larimer released the following statement in response to the Federal Reserve announcing its FedNow Service is now live:
“Nacha congratulates the Federal Reserve on the launch of FedNow. It is a significant achievement.
(L-R) Michael Herd, Nell Campbell-Drake, Jason Carone.
March 2023 marked the 5-year anniversary of the effective date of Phase 3 of the original Same Day ACH rules. Those rules provide for a review of the amount of the Same Day ACH fee as of this 5-year date.
The one-year anniversary of Same Day ACH’s $1 million limit is March 18.
Direct Deposits and Direct Payments are the smart and convenient way businesses, individuals, and government entities safely send and receive payments.
ACH end users have consistently and constantly asked for higher dollar limits for Same Day ACH payments. In March 2020, the original limit of $25,000 was raised to $100,000. Then, two years later in March 2022, the limit was increased again to $1 million per payment.