Moving Payments Faster With Same Day ACH

SAME DAY ACH Has Arrived! What has long been envisioned as a hopeful “myth” is now a reality in the world of payments. Let ACHeck21 guide into the world of same-day payments and change your business, ease of access to your money, and your LIFE like never before.

How It Works

Move Money Faster

Same day ACH transactions received before noon CST provide available funds on the day of deposit.

Send and Receive Same Day

Whether you are sending payroll or deducting the rent payment from your tenant, enjoy same day availability of funds.

Coding For Same Day

When creating an ACH entry through our API’s take care the date you use for settlement. if you use today’s date as the settlement date and we send the file to the bank before noon you will be charged the same day fee.

Frequently Asked Questions

Frequently Asked Questions

Government Participation

A: With the publication of a final 31 CFR Part 210 rule (Off-site Link) on September 11, the Treasury has confirmed it will participate in Same Day ACH as of Sept. 15, 2017. The Federal Reserve Banks and FedACH Services stand ready to support the Treasury in its participation.

A: An ODFI will be assessed the Same Day Entry fee only for forward items that are actually processed and settled as Same Day ACH items, whether commercial or government.

A: Yes, the federal government’s phased implementation of Same Day ACH affects forward ACH origination only. Returns will be eligible for same day settlement if they are not future-dated and are received by FedACH within one of the three processing windows for current day settlement.

A: Yes, ACH participants may originate and receive same day ACH entries to and from a state government agency.

Same Day Entry Fee and Accounting

A: As provided by the ACH Rules, a Same Day Entry Fee of 5.2 cents per transaction is assessed to ODFIs and credited to RDFIs to cover the RDFIs’ costs of enabling and supporting Same Day ACH. The Same Day Entry Fee is collected by the ACH operators on behalf of the RDFIs and settles to ODFIs and RDFIs on a monthly basis.

A: An ODFI will be assessed the Same Day Entry fee only for forward items that are actually processed and settled as Same Day ACH items, whether commercial or government.

A: No portion of the 5.2-cent Same Day Entry Fee is retained by the ACH operators or NACHA.

A: The Fed will settle the Same Day Entry Fees for all inter-operator transactions as well as intra-operator transactions where both the ODFI and RDFI are FedACH customers. The Clearing House (TCH) will settle only its intra-operator transactions (where both the ODFI and RDFI are TCH customers).

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A: The origination and receipt of Same Day ACH items is separated from the non-Same Day ACH items by use of unique accounting transaction codes. Furthermore, the totals are separated by credits and debits.

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Value Limits

A: The over $25,000 value limit applies to a single item. In all three Same Day ACH implementation phases, no single item over $25,000 will be eligible for same day settlement. Additionally, with the inclusion of ACH debits in phase 2 implementation, a $2,500 value limit will be imposed on items with an SEC Code of RCK (Re-Presented Check Entries) or XCK (Destroyed Check Entries).

A: All items in the batch will be processed, and the item(s) over the limit will be assigned the next business day’s settlement date, whereas the remaining items will receive same day settlement.

Returns, Notifications of Change (NOCs), Prenotifications and Reversals

A: All return entries received prior to the 4:00 p.m. ET deadline, including credits and debits, all SEC codes, all dollar amounts, both commercial and government, are eligible for same day settlement, regardless of whether the forward entry was processed as a same day entry.

A: All items in the batch will be processed, and the item(s) over the limit will be assigned the next business day’s settlement date, whereas the remaining items will receive same day settlement.

A: Whether processed and settled same day or not, return entries will not be assessed the Same Day Entry Fee.

A: NOCs, or those entries bearing the “COR” standard entry class code, are eligible for same day processing and will not be assessed the Same Day Entry Fee. Per the ACH Rules, notifications of change settle at the earliest opportunity.

A: The derived returns function within the FedLine Web access solution cannot currently be used to derive returns for Same Day ACH forward entries on the same day the forward entry settled. Current functionality does not make item-level information available until the next processing day. If an RDFI wishes to return a Same Day ACH forward entry for settlement on the same day it is received, a return file will need to be created and submitted to FedACH Services by the 4 p.m. ET deadline. Paper returns received by the 8:00 am ET deadline will settle on the same day as well.

Leverage the Power of the FinTech Cloud For Your Same Day ACH Needs!

ACHeck21 is a cloud-based digital transaction suite that seamlessly manages Check21 and ACH payments. Eliminating the complexity and friction of traditional financial software, ACHeck21 provides compliance, verification, duplication detection, remittance processing, SAME DAY ACH! and more in a single workflow. With its open API, merchants can easily integrate ACHeck21 to their existing payment portal or bank.

So How Can Same Day ACH Help Me or MY Business?

Here’s How Same Day ACH Can Help You!

Urgent Claims Payments and Refunds

Quick payout of insurance claim payments, disaster assistance payments, and other rebates, refunds and reimbursements.

Payroll

Faster payroll payments for hourly or temporary workers, and faster options for off-cycle payments such as bonuses or emergency payments.

Invoice and Tax Payments

Faster payment of invoices on or after the due date, and same-day remittance of tax payments.

Person to Person Payments

Quicker delivery of funds for transfers among family members or friends.

Account to Account

Movement of funds between accounts at different financial institutions, or funding of a prepaid or mobile account.

Bill Payment

Faster payment of bills on or after the due date.

Online Internet Payments

Faster payments for eCommerce.

Point of Sale Check Conversion

Quicker collection of funds for check conversion.

Collection Payments

Enabling sameday payoff of past-due accounts.

Merchant Debit Payments

Faster returns for consumer payments.

There Is a Phased Implementation Approach Plan by NACHA and the Federal Reserve and Here’s What It Looks Like

Functionality Phase 1 – Sept 23rd, 2016 Phase 2 – Sept 15th, 2017 Phase 3 – March 16th, 2018
Eligibility Credits Credits and Debits Credits and Debits
ACH funds availability End of RDF processing Day End of RDF processing Day 5:00 pm CST

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You can reach us anytime during normal business hours with any sales related inquiries, and all clients are given access to our 24 hour support line.

ACHeck21

St Charles, MO and Spring Hill, FL

Fax:

(314) 558-0051