Same-Day ACH Payments Change on 9/23 Posted by AVCU on 11:42 AM

On September 23, 2016, the Same Day ACH amendment to the NACHA Operating Rules will become effective.  The change will allow ACH users to send same-day ACH credit payments.

Same Day ACH builds on existing next-day ACH Network capabilities and establishes a new option for same-day clearing and settlement via ACH. Both ACH Operators will begin delivering same-day ACH credit payments to receiving depository financial institutions twice each banking day beginning September 23rd.

The Federal Reserve announced its commitment to the Same Day ACH rule in September 2015. Amendments to Operating Circular 4 (OC-4), Automated Clearing House Items, that address implementation of the Same Day ACH become effective September 23, 2016. The revised circular and a complete summary of changes are available for review online.

NACHA rules require all depository financial institutions to be ready to receive Same Day ACH credit transactions on September 23. This letter provides information about the amended rule and will help you prepare for Same Day ACH.

Read NCUAs letter to federally insured credit unions which explains the changes and outlines how to comply.