Same Day ACH (Phase 3) : Moving Payments Faster

Same Day ACH is making payments faster, debits and credits are both in motion as of September 2017 – what is the impact on ACH Payments? 

Same Day ACH affects not only the billing game (from the Originator’s standpoint) and In-House Origination, but also on the Receiver’s side, with debits possibly affecting their accounts on the Same day they authorize the Entry. Companies don’t thoroughly understand the impact debits can have on sending and receiving ACH transactions. This session will identify and outline the different way that Same Day ACH is impacting the ACH Network as a whole. 

For the Originator, with debits having Same Day settlement, this means faster collection! Authorization language for the Originator (this could even affect the ODFI who is doing in-house Origination to collect loan payments, for example), needs to be examined to ensure mention of a possible same day debit to the consumer account. With an uninformed Receiver, this could result in Entries being returned. Consumer accounts may tend to be overdrawn as they aren’t accustomed to authorizing a debit today and that debit being taken from me today. Funds availability, posting of debits have all been affected by the Same Day ACH environment. This is a “must attend” session! 

In this webinar expert speaker Donna Olheiser will sharing the information applied to scenarios (in real life) to bring the learning home and help to make understanding how Same Day ACH works to help ensure that FI’s are in compliance with the NACHA Operating Rules and utilizing Same Day ACH (SDA) as needed. 

Session Highlights: 

Illustrate how ACH Credits in the Same Day ACH environment can benefit Originators 

Identify Same Day Debits – impact on BOTH the Originator and the ODFI (with in-house Origination) 

Describe how the billing game is affected with Same Day ACH with illustrated examples (scenarios) 

Define “authorization language” and the key elements pertaining to Same Day debits 

Suggest changes to authorization language for Originators including phone authorizations 

Outline how the Receiver’s account can be affected when a debit or credit is received in the late afternoon file as late as 4:00PM ET 

Demonstrate the difference between Settlement and Funds Availability 

Why You Should Attend: 

Session Will Covered Following Points 

Comparison of the legacy ACH system and the NEW Same Day Environment and how this changes the payments landscape with two different rules for “funds availability”

Overview on Check Conversion utilizing the Same Day space – faster collection by merchants who take checks 

Scenarios of when the Receiver may be confused of an overdraft affecting their account later in the day 

Suggest potential future clients who could use the Same Day functionality 

Who Should Attend: 

ACH Operations staff 

Compliance Officers

ACH Auditors 

ACH Managers 

Electronic Payments Professionals 

Risk Professionals

AAP’s – keeping up with Rules changes and/or earning AAP Continuing Education Credits 

Anyone who wishes to enhance their knowledge of the new NACHA Operating Rules 

Ask your question directly from our expert during the Q&A session following the live event.

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