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Moving on Up with Same Day ACH

Amy Donaghue

By: Karen Sylvester, AAP, CAMS, CRCM, NCP, Director, Compliance Education

Same Day ACH is working to move payments even faster! The Nacha voting membership recently approved the next phases of Same Day ACH. These next phases include Faster Funds Availability, an increase in the per transaction limit and an opportunity to send and receive SDA items later in the day.

Here are a few details about each of the enhancements:

Faster Funds Availability - Effective September 20, 2019 funds availability for those Same Day ACH credit payments made available to the receiving depository institutions need to be available for withdraw by 1:30 PM local time. This is a significant improvement over today’s funds availability requirement of 5:00 PM local time.

Increased Dollar Limit – Effective March 20, 2020 the per-transaction dollar amount will be increased to $100,000.

Additional Processing Window – Contingent on changes to the Federal Reserve’s services, a third Same Day ACH processing window would allow for ODFI’s to send a file at 4:45 PM ET and be made available to the RDFI at 5:30 ET with settlement at 6:00PM ET. Those SDA transactions would have a funds availability requirement at the end of the processing day.

These changes are a step in the right direction as the industry continues to push transactions faster. This proposal could enable the rollout of the additional processing window, an exciting enhancement to the ACH Network. EPCOR is looking for our members' feedback on both the Federal Reserve’s proposal to enhance the National Settlement Services and the Fedwire Funds Service's Request for Comment. EPCOR invites you to participate in our FREE Special Industry Update webinars to learn more about the proposal. Register for either webinar scheduled for June 18 or June 27th.

Get the Scoop on Same Day ACH!

Join us to examine what is coming down the road for Same Day ACH including faster funds availability, increased dollar limit and the addition of a third processing window! During our webinar, Are You Ready for Same Day ACH Enhancements?, on June 26th we’ll discuss what the Same Day ACH processing environment is now and how these new enhancements will impact processing for both RDFIs and ODFIs. Together we will evaluate your policies and procedures and find out what steps your institution should be taking to prepare to meet the requirements of these new ACH Rules changes. Don’t miss out! Register online or contact Member Support at 800.500.0100 or via email at memserve@epcor.org.