Same Day ACH transactions are getting even more enhancements, as NACHA announced in 2021. These enhancements are another step toward making ACH a real-time payment method!

Following NACHA’s multi-part Same Day ACH rollout in 2018, Same Day ACH has become increasingly valuable for a wider array of use cases.

If you’re just hearing about Same Day ACH transactions, check out our blog, What is Same Day ACH and why does it matter? for more details. In this post, we’ll explore the extended capabilities that you can look forward to in the coming months.

Earlier Transmission Times

Getting paid faster by using Same Day ACH is great. Getting paid even faster is even better. Effective September 2019, the availability of funds for customers who process Same Day ACH and other ACH Credits occurs earlier in the day.

Actum works with our customers to receive and post ACH Credits so that funds are available sooner, according to the following schedule:

Higher Transaction Limits

As of March 18, 2022, the same day ACH dollar limit increased from $100,000 to $1 million per payment. This rule, implemented by NACHA, applies to all eligible, same-day ACH payments including credits and debits for consumers and businesses.

What You Can Expect

We’ll stay in touch with our customers and partners to ensure that they can make the most of these extended ACH capabilities.

Here are some use cases that describe how these three enhancements can benefit your business:

Same Day Credits:

  • Insurance Claims and Disaster Assistance Payments – these often exceed the current dollar limits and are time-sensitive to customers with home, auto and other claims.
  • Refunds – customers can see credits sooner for an amount due or an overpayment.
  • Discounts – take advantage of supplier or vendor payment discounts by making payments the same day.

Same Day Debits:

  • Last-Minute Bill Payments – consumers can make bill payments on due dates and could see faster processing of late payments.
  • Account-to-Account Transfers – initiate or receive transfers higher than the current limit.

Same Day Debits and Credits:

  • B2B Payments – an additional 8% of ACH B2B payments become eligible for Same Day ACH.
  • Tax Payments – businesses can avoid late payment penalties with expanded Same Day ACH.
  • Reversals – a greater percentage of transactions can be reversed using same-day processing.
  • Payroll – make emergency payrolls and have faster payment options for hourly, temporary and contract workers.

For more information about Same Day ACH Payment Processing with Actum, we invite you to Contact Us.

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