Same Day ACH: Moving Payments Faster (Phase 2)
New capabilities of Same Day ACH become effective over phases to allow financial institutions and businesses to acclimate to a faster processing environment, as well as to ease the implementation effort. Beginning September 15, 2017, Same Day ACH is available for debit entries, enabling the same-day processing of virtually any ACH payment.
The Rule enables the option for same-day ACH payments through additional ACH Network functionality, without affecting previously available ACH schedules and capabilities:
Third-Party Sender Registration
DEADLINE for initial registration is March 1, 2018.
This rule requires Originating Depository Financial Institutions (ODFIs) to identify and register their Third-Party Sender customers. The registration process promotes consistent customer due diligence among all ODFIs, and serves as a tool to support Nacha’s continuing efforts to maintain ACH Network quality.
Register your Third-Party Sender customers here.