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June 13, 2017

Majority financial institutions ready to originate same-day debits: NACHA

By Prasad

Nearly 92% of 24 financial institutions representing two-thirds of ACH origination volume are ready to originate same-day debit transactions on 15 September 2017, according to the latest NACHA survey.

The survey revealed that 63% of financial institutions have reported that their clients have a high to medium interest in originating same day ACH debits.

The electronic payment association NACHA introduced same day ACH for credits in 2016.

NACHA president and CEO Janet Estep said: “Same Day ACH debits provide the option to make payments faster, and can give consumers a better sense of their current account balances, which delivers capabilities endorsed by consumer advocate groups.

“Receipt of Same Day ACH debit transactions will be ubiquitous – reaching every U.S. bank account holder beginning on Sept. 15, 2017.”

Founded in 1974, NACHA manages the development, administration and rules for the payment network that universally connects nearly 11,000 financial institutions in the US.

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