On May 19, 2015, NACHA membership approved an amendment to the NACHA Operating Rules that will accelerate ACH transaction settlement. In addition to the current process of overnight settlement, there will be two daytime settlement windows -morning and afternoon- available during weekdays for same day settlement. Methodology to identify the transactions for same day settlement, as well as an adjustment for calculating the Same Day Entry Fee are included in the amended Rule.
The Rule is mandatory for all financial institutions that use ACH and will be implemented in phases. In the first phase, ACH credit transactions, such as hourly payroll, person-to-person (P2P) payments, and same-day bill pay, will be eligible for same day processing. Phase 1 is scheduled to begin September 23, 2016.