Same-Day ACH

Originating and Receiving Payments Electronically

It's an exciting time in the payments industry with several innovative initiatives underway designed to move payments faster! One of these initiatives is NACHA's Same-Day ACH Rule which builds upon existing ACH Network next-day settlement capabilities and establishes a new same-day settlement capability giving businesses an option to send and receive payments faster.

Phased Implementation Approach

Implementation of the Same-Day ACH Rule is spread out over three phases that began in September 2016. This phased approach provides an eighteen-month period over which businesses and financial institutions can manage their implementation efforts. This allows the industry to gradually acclimate to a faster processing environment.

  • The first phase was implemented on September 23, 2016, and provided for same-day settlement of domestic ACH credit entries of $25,000 or less with funds being available by end of the Receiving Depository Financial Institutions (RDFI's) processing day.
  • The second phase was implemented on September 15, 2017, and enables same-day settlement of domestic ACH debit entries of $25,000 or less. Same-day credit funds availability will remain at the end of the RDFI's processing day.
  • The third phase was implemented March 16, 2018, RDFI's are required to provide funds availability for same-day credits no later than 5:00 p.m. in the RDFI's local time.

ACH Originators

If you originate ACH transactions, here are facts you need to know to prepare for upcoming changes to accommodate same-day ACH:

  • Beginning September 15, 2017, domestic ACH debit entries of $25,000 or less, originated by you that meet the following criteria will be processed and settled as same-day ACH transactions:
    • Dated with the current day’s date in the Effective Entry Date field. Please note, stale or invalid dates in the Effective Entry Date field will be processed in the next available window, which could be same-day or next-day; and
    • Received for processing by 10:30 a.m. PT for Direct Send clients and by 10:00 a.m. PT for Treasury Internet Banking clients.
    • Note: If you currently process and submit files on non-banking days (i.e. weekend and/or holidays), those files are processed at the open of business on the next business day. Entries contained within those files will be qualified and billed as same-day if the effective entry date of the batch(es) is equal to or less than the processing date.
  • To avoid same-day processing, submit your file after the cutoff time referenced above or use an Effective Entry Date in the future.
  • Domestic transactions greater than $25,000 and international transactions do not qualify for same-day processing.
  • Same-day ACH transactions are assessed an additional per item fee of $1.00. Please note, the Same-Day Transaction Fee only applies to transactions going to banks other than ZB, N.A and its divisions.
  • We recommend reviewing and updating the ACH Debit Authorization Form signed by your customers, if necessary, so that it addresses the possibility of same-day settlement.

Updated e-Invoicing & Payments Communication

The e-Invoicing & Payments product does not allow for same day ACH debit processing. Your payments will continue to process on the next business day as they do today and the same-day ACH fee will not apply. We will evaluate the feasibility of adding this functionality to the product at a later date. We apologize for any confusion that was caused from the previous communication.

ACH Receivers

If you receive ACH debit transactions in your account, here are facts you need to know to prepare for upcoming changes to accommodate same-day ACH:

  • Beginning September 15, 2017, domestic ACH debits (up to $25,000) may post the same day as submitted.
  • As a best practice, companies receiving ACH debits should account for anticipated transactions to ensure sufficient funding.
  • Same-day ACH debits may post up to 2:00 p.m. PT and should be considered for end-of-day investment decisions.

Important Product Changes to Accommodate Same-Day ACH

Financial Electronic Data Interchange (FEDI)

If you use our FEDI service, here are facts you need to know to prepare for upcoming changes to accommodate same-day ACH:

Clients Receiving FEDI Translated Reports via Treasury Internet Banking or Facsimile

  • Effective August 7, 2017, dependent on your received activity, you could begin receiving a second report each day.
    • You will continue to receive the morning report at 6:00 a.m. PT which includes items received up until 1:00 a.m. PT with a settlement date of current day.
    • Beginning, August 7, 2017, you may receive a second report at 2:00 p.m. PT which will include any items received from 1:01 a.m. PT – 1:45 p.m. PT with a settlement date of current day. Please note, the second report will only be sent if you have items.
  • There is no additional fee to receive the second report within Treasury Internet Banking
  • Please note, the standard per-page fee will apply for the second report received via Facsimile.

Clients Receiving FEDI NACHA Files via Direct Send (SFTP)

  • Effective August 7, 2017, dependent on your received activity, you could begin receiving a second file each day.
    • You will continue to receive the morning file at 6:00 a.m. PT which includes items received up until 1:00 a.m. PT with a settlement date of current day.
    • Beginning August 7, 2017, you may receive a second file at 2:00 p.m. PT which will include any items received from 1:01 a.m. PT – 1:45 p.m. PT with a settlement date of current day. Please note, the second file will only be sent if you have same-day items.
      IMPORTANT INFORMATION FOR YOUR IT DEPARTMENT: The afternoon file will contain a date/time stamp in the file name so that the second file doesn’t overwrite your first file.
  • Please note, the standard per-file fee will apply for the second file. Please contact our Treasury Management department at (888) 316-6500 if you wish to receive only one file per day.

ACH Positive Pay

If you use our ACH Positive Pay service, here are facts you need to know to prepare for upcoming changes to accommodate same-day ACH:

  • Effective September 15, 2017, we will begin loading ACH Positive Pay exceptions twice a day.
    • We will continue to load exceptions at 6:00 a.m. PT which includes exceptions from ACH items received up until 1:00 a.m. PT with a settlement date of current day.
    • Beginning September 15, 2017, we will also load exceptions at 2:00 p.m. PT which will include exceptions from ACH items received from 1:01 a.m. PT – 1:45 p.m. PT with a settlement date of current day.
  • The decision window is being extended to 4:00 p.m. PT to give you sufficient time to decision your exceptions. Please note, if you do not provide a decision by the cutoff time, your default decision (Pay or Return) that you established at implementation will apply.
  • We recommend decisioning your exception items twice a day, once in the morning after the first exception load and then again after the afternoon exception load. Most of your exceptions will continue to be in the morning load.
  • If you have enabled Email Notifications, you will receive notifications at the following intervals to help manage your exception items:
    • At start of decision window 6:00 a.m. PT
    • When same-day ACH exceptions have been loaded
    • 30 minutes before decision window ends
  • There is no additional ACH Positive Pay fee for the second exception load or the extended decision window. Please note, the standard per-item exception fee and the standard per-item exception return fee will apply.
  • Here are a few Helpful Tips to assist with effectively managing your ACH Positive Pay exceptions:
    • Enroll in Notification Alerts which can be delivered via text and/or email. Receive alerts when exceptions are loaded and thirty minutes before the end of the decision window.
    • Add our email address corporateservices@calbt.com to your Contact List and/or Whitelist to receive your Notification Alerts in a timely manner.
    • Set up ACH filters for all trading partners who are authorized to debit your account(s).

We Are Here to Help

Please contact our Treasury Management department at (888) 316-6500 if you have any questions.