NEW Same Day ACH Qualified Batch Reporting

By Chris Selmi, AAP, CRCM, SVP, Risk & Regulatory Compliance

Posted: July 5, 2016

The Federal Reserve has announced a new report to help ODFIs identify their Same Day ACH volume to assist ODFIs in understanding the impact of the Phase 1 implementation of Same Day ACH. Because the Fed will settle as same day any invalid, stale, or current date credit batches they receive before the same day submittal deadline, every ODFI should be analyzing the Effective Entry Dates used by their internal and external Originators to be sure that their use of the upcoming same day settlement functionality is intentional.

The Federal Reserve’s report will analyze previous month forward batches and will list Originator information, pertinent same day qualification data, entry counts and dollar totals. They will be generated in the first week of each month beginning in July and lasting through September.

More information on this report, including how to order it for your institution, can be found here.