NACHA Moves Forward with Same-Day ACH

At the Payments 2014 Conference, NACHA announced they have begun taking initial steps towards a ubiquitous, same-day ACH settlement capability. While other countries have successfully implemented same-day settlement networks for ACH-like transactions, the US has thus far been unsuccessful – voting down a proposed NACHA rule change in 2012.

This time around, NACHA is more optimistic about their phased approach. They seek to move the ACH Network from today's single, next-day settlement to multiple, same-day settlement options that would be available for virtually any ACH Network transaction.

The phases as currently outlined:

  • First phase would provide a foundation to better enable same-day ACH credits to support important use cases such as payroll, person-to-person (P2P) payments and expedited bill pay.
  • Second phase would introduce same-day ACH debits and enable a wide variety of consumer bill payment use cases like utility, mortgage, loan and credit card payments.
  • Third phase would improve the service level across the ACH Network and reduce counter-party risk by adding a second same-day settlement and accelerating funds availability.

As NACHA continues to explore this capability, they welcome feedback from Network users to better understand the use cases, benefits and potential volume of same-day ACH. To inform rule makers this fall, NACHA has launched a study to assess the industry's costs and potential transaction volume for same-day ACH.