The Electronic Payments Association announced today that its members have given the green light to same-day ACH, greatly accelerating the speed at which money will move through the entire financial system.
Voting members approved an amendment to the NACHA operating rules that add two new same-day settlement windows to the ACH network, increasing the movement of funds between financial institutions from once a day to three times per day.
The rule also requires all receiving depository financial institutions to accept same-day transactions and establishes a methodology for a fee to recover some of their costs.
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