NACHA Announces: Phase 2 of SAME DAY ACH
Effective September 15, 2017
NACHA – The Electronic Payments Association brought the industry together to move payments faster on the ACH Network. Same Day ACH builds upon existing ACH Network next-day settlement capabilities, and establishes a new same-day settlement capability giving consumers, businesses and governments an option to send and receive payments faster.
Receiving Depository Financial Institutions (RDFI): The Rule requires that all RDFIs receive same-day transactions and provide faster funds availability to customers.
Originating Depository Financial Institutions (ODFI): Under the new Same Day ACH Rule, two new same-day settlement windows will be added to the ACH Network, increasing the number of settlements between financial institutions from one to three times each day.
TBK Bank, SSB Same Day ACH Processing Schedule
|Batches Submitted||Sent to Fed||Qualifies for Same Day|
|4:01pm-9:30am CST||10:45am CST||YES|
|9:31am-4:00pm CST||6:00pm CST||NO|
To be eligible for Same Day ACH Origination:
For pricing information on Same Day ACH, please contact your bank executive.
COMING IN MARCH 2018 – PHASE 3 – FASTER FUNDS AVAILABILITY FOR SAME DAY ACH
Posted in Triumph Bancorp