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Comments Due on Same-Day Automatic Clearinghouse Proposal
Monday, February 2, 2015 6:25 AM

Comments on a same-day automated clearinghouse (ACH) proposal are due to NACHA, the Electronic Payments Association, by Feb. 6.

NACHA has proposed amendments to its rules that would enable same-day processing of virtually any ACH payment. Currently, most payments are settled the next business day.

The exceptions would be international transactions and individual transactions of more than $25,000.

All receiving depository financial institutions (RDFIs), including credit unions, would be required to receive same-day ACH payments in order to provide certainty to originators desiring same-day transactions. All RDFIs will incur implementation and ongoing operating costs if the proposal is adopted in its current form.

The Credit Union National Association has sought comments from credit unions on this proposal, particularly small credit unions.