The latest enhancement to Same Day ACH is here. The per payment limit is now $1 million.

Same Day ACH is the faster payment method that debuted in September 2016 for credits, notching 1.3 million payments in its first six processing days. Debits were added in 2017, and by the time Same Day ACH marked its fifth anniversary in September 2021, it had recorded a total of 1.2 billion payments. It took just 13 months more to cross the 2 billion mark.

ACH Network volume grew 8.7% in 2021 with 29.1 billion payments. The value of those payments rose 17.4%, or $10.8 trillion.

Buoyed by strong gains in the healthcare and business-to-business sectors as well as Same Day ACH payments, ACH Network payment volume grew 6.1% during the fourth quarter of 2021.

Today, Nacha released the following statement by President and CEO Jane Larimer on the December 2021 update to the Federal Reserve Payments Study.

In just five short years, Same Day ACH – Nacha’s faster payments solution – has gained remarkable traction, with the payments community putting it to work in several use cases.  

With business-to-business (B2B) showing particularly strong growth, and healthcare claim payments setting a record, the modern ACH Network recorded a 7.7% increase in payment volume during the third quarter of 2021. 

The IRS used Same Day ACH to send some 430,000 Advance Child Tax Credit (ACTC) payments.

To mark the fifth anniversary of Same Day ACH, Nacha has new cases studies showcasing the ways this faster payment method is being put to use.

As Same Day ACH marks its fifth anniversary, Nacha President and CEO Jane Larimer looks at some milestones and what's ahead.

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. 

The number of payments and value conducted on the ACH Network.

A panel of end users and practitioners discusses the key features and drivers of the FedNow Service – and whether they tend to adopt the new payments system when available – as well as how new payments rails may have changed their business models.

While there’s an overwhelming desire to return to pre-pandemic life, some changes to the payments landscape are likely permanent—and that’s a good thing.

A survey by RMAG found no increase in fraud attributable to the later hours for submitting Same Day ACH payments.

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.

As the pandemic winds down, both consumers and merchants are beginning  to figure out what the “new normal” will be. This is especially true for the way they interact with money. People are paying at the register with their phones, and merchants are accepting alternative payment methods.

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).  

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.