Upcoming ACH rules and resources

NACHA has been fairly busy these past few years finalizing and updating rules, issuing bulletins and seeking industry comments for new rules to make ACH transactions faster. A couple of ACH rule deadlines are looming, so it is a good time to review these rules, highlight resources and give you a heads up on things you may have missed from last year.

Same Day ACH Phase 3

Most credit unions that originate ACHs are well aware of the Same Day ACH rule that was passed a couple of years ago to expedite the sending and receiving of ACHs. As of today, the deadlines for Phase 1 and Phase 2 are long gone, paving the way for the effective date of March 16, 2018 for Same Day ACH Phase 3. Folks, this is only 58 days away!

Here is a table that details the different requirements of each implementation phase, highlighting Phase 3 requirements:

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