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 […]

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.
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The League of Southeastern Credit Unions & Affiliates represents 342 credit unions in Alabama, Florida and Georgia, with a combined total of $118.63 billion in assets and more than 10.1 million members. LSCU & Affiliates provides legislative and regulatory advocacy; education and training; cooperative initiatives (including financial education outreach); public messaging; information services; and business solutions.

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