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Regulation Summary
Agency NACHA
Rule Name Same Day ACH
Comment Due Date 02/06/15

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NACHA – The Electronic Payments Association has issued a proposed rule that would provide a new, ubiquitous capability for moving automated clearing house (ACH) payments faster. The proposal would amend the NACHA Operating Rules to enable the option for same-day processing of virtually any ACH payment (for all types of credits and debits) except for international transactions and individual transactions above $25,000. NACHA believes there are many uses of ACH payments for which businesses and consumers could benefit from same-day processing, including business to-business, same-day payroll, expedited bill, and account-to-account payments. Currently, most ACH payments are settled on the next business day; current ACH schedules and capabilities would continue to apply to transactions that are not designated as Same Day ACH.

Specifically, all RDFIs would be required to receive Same Day ACH payments in order to provide certainty to Originators that desire same-day processing and settlement the option to send Same Day ACH transactions to accounts at any RDFI. Under the proposal, all RDFIs would also have to make same day ACH credits (such as payroll direct deposits) available to their depositors by 5:00 p.m. local time.)

Comments are due to the NACHA by February 6, 2015; please submit your comments to CUNA by January 23, 2015.

For further details and resources from NACHA, please visit the NACHA website to review their Executive Summary, Proposed Rule Changes, Detailed Presentation, Fact Sheet, and other materials.

If you have any questions or comments, please contact Luke Martone.