Late night ACH file delivery for many began Sept. 12

A new late-night legend has started. But it’s not challenging Colbert, Fallon, Kimmel, or SNL.

Late night ACH file deliveries have begun for many financial institutions as of Monday, Sept. 12. For others, the new part is Friday night file deliveries starting Sept. 16. Let’s break it down.

• If your bank or credit union is a Receiving Depository Financial Institution (RDFI) client of the Federal Reserve, then Monday, Sept. 12 was the date late-night file deliveries started. By 11:30 p.m. ET every weeknight, except federal holidays, you will receive an additional ACH file. 
• If your bank or credit union is an RDFI client of The Clearing House, you already receive a late-night ACH file Sunday-Thursday. Beginning Sept. 16, you will also receive one on Friday nights. 
  

In all cases, the ACH operators will send all ACH payments they have received since the previous transmission deadline. That includes one-day debits and credits due to settle at 8:30 a.m. ET the next business day, as well as two-day credits for settlement at 8:30 a.m. ET on the designated banking day. The files also will contain returns, but there won’t be any same-day ACH payments, since those will have been completed earlier in the day.

Check out the full article here.