Search
 
Analysis

Same-Day ACH Debits

Getting ahead of the next phase of same-day ACH.

By Rick Burke | Updated on September 14, 2017

Last year financial institutions, businesses, and consumers who use the Automated Clearing House network for payment processing gained the ability to send and receive same-day ACH credits. Companies found this capability quite useful and soon were engaging in nearly 200,000 of these transactions daily, according to NACHA, a nonprofit that administers and facilitates ACH payments. And in a TD Bank survey at the 2017 NACHA Payments conference, 40 percent of corporate finance professionals said that same-day ACH is among the top tools for getting paid quickly and lowering the costs of the finance function.

Following on the success of same-day ACH credits, the second phase of same-day ACH processing will enable originators to submit same-day debit requests beginning this Friday, September 15, 2017. As with the credits, same-day debits will be limited to domestic transactions of $25,000 or less.

Same-day debits are likely to increase demand for this payments rail, as NACHA reports that 60 percent of traditional ACH transactions currently undertaken are debits that are processed either in one to two days, or on a specified future date. This new, same-day payment capability will impact the finance functions of many U.S.-based organizations.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2024 ALM Global, LLC. All Rights Reserved.