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).