InfoSight Spotlight: Same-day ACH payments deadline approaches

This week’s InfoSight newsletter alerts credit unions to changes in Same Day ACH payments. On Sept. 23, 2016, Same Day ACH, an amendment to the NACHA Operating Rules, will become effective, allowing ACH users to send same-day ACH credit payments.

The rule will enable ACH originating depository financial institutions (ODFIs) that want to utilize same-day processing the option to send same-day ACH transactions to accounts at any receiving depository financial institution (RDFI). Offering same-day ACH products and services will be optional for ODFIs, but receipt of same-day entries will be required for RDFIs.

View the letter to credit unions here. For additional information, click here for the topic.