Same-day ACH Phase 3 kicks in soon: Are you ready?
A very important day for your Finance department is right around the corner.
March 16 is the day the third and final phase of same-day Automated Clearinghouse (ACH) kicks in.
Here’s what it means to you and your team.
Faster, still safe
Even faster payments are in your company’s immediate future.
Beginning on March 16, receiving depository financial institutions (RDFIs) must make funds available from same day ACH credits (such as payroll Direct Deposits) to their depositors by 5:00 PM at the RDFI’s local time.
More good news on this front comes courtesy of a recent NACHA survey.
While there’s expected to be a major uptick in the use of same day ACH (82% for debits and 78% for credits), there’s been a 0% increase in fraud on these transactions.
For additional survey results, go to web.nacha.org/resource/same-day-ach/same-day-ach-survey-november-december-2017
- Share on
Free Training & Resources
White Papers
Provided by UJET
Further Reading
The Internal Revenue Service (IRS) has released the Affordable Care Act (ACA) affordability update for 2027, giving employers a new figure ...
Among the many provisions of the Secure 2.0 Act, several deal with the paperwork responsibilities that fall on retirement plans. The Sec...
Mark your calendar: National Payroll Week returns Sept. 7-11, 2026, to recognize the role payroll professionals play in making sure workers...
AI and machine learning technology is giving companies an edge like they’ve never enjoyed before. Businesses can pinpoint exactly whi...
Failed B2B payments can be disruptive in areas beyond cash flow. For instance, if your bank has to repeatedly put in extra work to process ...
Late payroll-tax deposits will be more expensive, effective July 1. The IRS set the interest rate on tax underpayments at 7% for Q3, up ...
