NACHA has approved three new same-day ACH rules that will expand capabilities for financial institutions.
First, NACHA approved expanded access to same-day ACH by allowing these transactions to be submitted to the ACH operators for an additional two hours every business day. Second, the same-day ACH per-transaction dollar amount was increased to $100,000. Currently, same-day ACH entries have a transaction limit of $25,000. Lastly, same-day ACH funds processed in the existing first window (file submission deadline at 10:30 a.m. ET; settlement deadline at 1:00 p.m. ET) will be available by 1:30 p.m. local time by the receiving financial institution. Currently, funds must be available by 5 p.m. local time.
These new rules are effective as follows:
- September 20, 2019- Faster funds availability rule
- September 18, 2020- Same-day ACH processing window with expanded hours rule
- March 20, 2020- Increase in the per-transaction dollar limit rule
For more information about NACHA’s same-day ACH phases and processing windows: https://web.nacha.org/resource/faster-payments-same-day-ach/preparing-same-day-ach-phase-three