Last year financial institutions, businesses, and consumers whouse the Automated Clearing House network for payment processinggained the ability to send and receive same-day ACH credits.Companies found this capability quite useful and soon were engagingin nearly 200,000 of these transactions daily, according toNACHA, a nonprofit thatadministers and facilitates ACH payments. And in a TD Banksurvey at the 2017 NACHA Payments conference, 40 percent ofcorporate finance professionals said that same-day ACH is among thetop tools for getting paid quickly and lowering the costs of thefinance function.

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

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

  • 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.
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.