Compliance: 3rd phase of same day ACH starts Friday

The third and final phase of the same day automated clearing house (ACH) implementation is effective Friday, March 16. Effective with Phase 3, receiving financial institutions (RDFIs) must make funds available from same-day ACH credits for withdrawal by 5 p.m. at the RDFI’s local time.

The first phase of implementation, effective Sept. 23, 2016, provided for same-day settlement of credit entries. The second phase of implementation began Sept. 15, 2017, and enabled same-day settlement of debit entries.

NACHA-The Electronic Payments Association’s Same Day ACH Rule allows originating financial institutions (ODFIs) to submit files of same-day ACH payments through two additional clearing windows provided by the ACH Operators:


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