Same Day ACH

Make expedited ACH payments on the same day they are drafted or approved! This can help when it comes to company payroll and bills.  

• Ideal for businesses with high volume but suitable for businesses of all sizes 
• Supports faster payroll and vendor processing 
• Eliminates expense of paper checks 

Please note that certain exclusions apply.

FAQs

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What is ACH?

The ACH Network is at the center of commerce in the U.S., moving money and information from one bank account to another through Direct Deposit and Direct Payment via ACH transactions, including ACH credit and debit transactions; recurring and one-time payments; government, consumer and business-to-business transactions; international payments; and payments plus payment-related information. Each year it moves more than $41 trillion and 24 billion electronic financial transactions.

What is Same Day ACH?

Same Day ACH offers an option to consumers, businesses, and governments that want to move their money faster. Instead of using paper checks that have to be physically delivered from bank to bank to move money, checks and other forms of payment are converted into electronic images that can be sent to/from financial institutions much faster. Starting September 15, 2017, ACH payments will process the same-day they are presented. Currently, most ACH payments process on the next business day. All consumers, businesses, government entities and financial institutions that use the ACH Network to move money between bank accounts will benefit from the option to move ACH payments faster.

What types of transactions are eligible for Same Day ACH?

Virtually all types of ACH payments, including both credits (payroll) and debits (payments), will be eligible for same-day processing. Eligible transactions account for approximately 99 percent of current ACH Network volume.

• Same-Day Payroll, supporting business’ needs to pay hourly workers, and providing flexibility for late and emergency payrolls and missed deadlines; and enabling employees to have faster access to their pay in these cases ( Implemented in Phase 1); 
• Business to-Business Payments, enabling faster settlement of invoice payments between trading partners (Phase 2);
• Expedited Bill Payments using both ACH credits and debits, enabling consumers to make on-time bill payments on due dates, and providing faster crediting for late payments (Phase 2); and,
• Account-to-Account Transfers, providing faster crediting for consumers who move money among various accounts they own (Phase 2).

Note: No, not all transactions are eligible. International transactions (IATs) and high-value transactions above $25,000 will not be eligible. IATs are ACH transactions that is part of a payment transaction involving a foreign, or non-U.S. financial agency or institution.

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