2018-Approved Enhancements to Same Day ACH
Three new rules were approved in September 2018 to expand the capabilities of Same Day ACH for all financial institutions and their customers. The three new rules
have different effective dates, so read each description below for timing of implementation.
New Same Day ACH Processing Window
This change creates a third Same Day ACH processing window that expands Same Day ACH availability by two hours
- Currently, the latest that an ODFI can submit files of Same Day ACH transactions to an ACH Operator is 2:45 p.m. ET (11:45 a.m. PT)
- The new window will allow Same Day ACH files to be submitted until 4:45 p.m. ET (1:45 p.m. PT), providing greater access for all ODFIs and their customers
- The timing of this new processing window is intended to balance the desire to expand access to Same Day ACH through extended hours with the need to minimize impacts on financial institutions’ end-of-day operations and the re-opening of the next banking day
- The effective date of the new Same Day ACH processing window is March 19, 2021. The implementation is deferred six month from the original plan after the Federal Reserve's request for public comment and subsequent review
Increasing the Same Day Per Transaction Limit
This change increases the per-transaction dollar limit for Same Day ACH transactions to $100,000
- Currently, Same Day ACH transactions are limited to $25,000 per transaction
- While the current limit covers approximately 98% of ACH transactions, there are many use cases for which a higher dollar limit will better enable end users to utilize Same Day ACH. For example, a higher transaction limit would better enable:
- B2B payments, in which only approximately 89% of transactions are currently eligible
- Claim payments, which are often for larger dollar amounts and are time sensitive in nature
- Reversals for a larger pool of transactions, including all Same Day ACH transactions
- The increase in the per-transaction dollar limit will become effective on March 20, 2020
Faster Funds Availability for Same Day ACH Transactions
This change establishes additional funds availability standards for ACH credits
- Funds from Same Day ACH credits processed in the existing, first processing window will be made available by 1:30 p.m. RDFI's local time
- Funds from non-Same Day ACH credits will be available by 9:00 a.m. on the Settlement Date, if the credits were available to the RDFI by 5:00 p.m. on the previous day (i.e., apply the existing “PPD rule” to all ACH credits)
- The faster funds availability rule became effective on Sept. 20, 2019