This service enables processing, editing, distribution and settlement of most types of ACH forward payments as well as all return items during the current processing day. With the September 23, 2016, implementation of Phase 1 of NACHA’s Same Day ACH rule, forward ACH credits became eligible for same day settlement with the exception of International ACH Transactions (IAT) and Automated enrollment (ENR) transactions. Additionally, in order for a forward item to be processed and settled same day, it must not exceed $25,000, must be received by a same day submittal deadline, and must not contain a future date in the effective entry date field. With the September 15, 2017 implementation of Phase 2, debits became eligible.
As of September 23, 2016, the FedACH SameDay Service is available to all FedACH customers and requires no sign up or agreement to participate. The FedACH processing schedule effective September 15, 2017 (PDF), reflects changes for both forward and return items. The federal government and its agencies have elected to delay participation in the FedACH SameDay Service until a later phase of implementation of NACHA’s Same Day ACH rule.
Refer to the Same Day ACH Resource Center for information about Same Day ACH and the impact on FedACH Services.