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Same Day ACH Debit: Moving Payments Faster

Same Day ACH Debit is a new rule adopted by NACHA (The National Automated Clearing House Association), which is the rulemaking body for the ACH network. The ACH network is an electronic network for financial transactions that include credit and debit transactions. ACH credit transactions include direct deposit and payroll.  ACH direct debit transactions include, but are not limited to, automatic drafts, check conversions, and electronic payments.

Effective September 15, 2017, many merchants and billing companies may offer you the option to make a same-day electronic payment, such as to pay a bill or to transfer funds. If you agree, then the funds might be debited from your account as soon as that very same day.

What You Need to Know:

  • When you authorize a merchant or biller to debit your account they should include information or a statement about the timing of the payment. If the merchant or biller offers the option to make a same-day payment, it might be referred to as a same-day payment, or noted that the merchant or biller intends to collect the funds as quickly as possible.
  • If you have pre-authorized a recurring electronic payment, such as a water bill, electric bill, mortgage payment, cable bill, etc., then very likely there will be no change to the time these payments are posted to your account.
  • Do not assume funds will clear a day or two after making a payment. When you authorize a merchant or biller to debit your account, that debit may withdraw funds from your account on the same day. You should always have sufficient funds in your account to cover every payment you make, authorize, or initiate. 

For additional information please contact us at 202-452-3871


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