Today In Data: Same Day ACH

In a recent interview with PYMNTS’ Karen Webster, Jane Larimer, chief operating officer at NACHA, said the financial services industry has done much preparation in terms of enhancing systems and processing, in tandem with significant testing, after a smooth Phase 1 of Same Day ACH debuted last September.

“We’re seeing robust use of same-day ACH credits,” said Larimer.

As Phase 2 for debit transactions gets underway, the movement represents an option to transition to the two same-day windows now in place for credit transactions. With same-day debit, Larimer said, “consumers know their true balance faster.” This may prove especially useful for lower-income consumers, for whom knowing precisely how much money they have available in their accounts is critically important, Webster surmised.

“In the beginning,” as same-day debit goes live, Larimer posited that “we may be seeing incremental volume.”

Financial institutions, she said, are likely to be a bit cautious at the outset to ensure that unintentional debits do not occur, noting that “there’ll be a careful uploading.”


Here are the numbers:

$57 billion | Same-day ACH credit transactions between Sept. 2016 and July 2017

50 million | Same-day ACH credit transactions NACHA projects will occur this calendar year

42 million | Same-day ACH credit transactions between Sept. 2016 and July 2017

71 percent | Percentage of financial institutions making end-of-day funds available as of May 2016

3 | Phases involved in the Same Day ACH rollout process