NACHA, the organization that manages the ACH Network, worked for years on a rules change to allow same day ACH settlement, only to see their proposal voted down in August 2012. Reportedly, the nation's largest banks were the most opposed. Meanwhile, non-bank competitors such as PayPal offer same-day money transfers, and countries around the world have or are implementing some form of real-time transfers.
NACHA is continuing its outreach to its Members and the industry, exploring options that can lead to the certainty of a ubiquitous same-day ACH settlement rule. NACHA is supportive of the offering available to financial institutions via the FedACH® SameDay Service. It is a very good starting point and it is available now. NACHA encourages financial institutions to adopt the Fed service as a stepping stone to a broader offering in the future.
In April, The Independent Community Bankers of America® (ICBA) released a new white paper - "Same-Day ACH: An Opportunity for Leadership" - expressing its support for same-day ACH capabilities and encouraging community banks and other institutions to adopt and advocate same-day ACH services. ICBA contends that adding same-day capabilities is crucial to ensuring that the ACH network remains a viable, relevant and efficient network. ICBA strongly believes that an accelerated transition to same-day ACH is vital to all ACH participants—financial institutions, consumers and businesses with or without a NACHA rule change.