NACHA Same Day ACH |
•  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.
•  Click here for CUNA's detailed summary.
•  Comments are due to the NACHA by February 6, 2015; please submit your comments to CUNA by January 23, 2014.
•  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 CUNA Senior Assistant General Counsel Luke Martone.