The Electronic Payments Association formally sought feedback on Same Day ACH. acknowledging that “In today’s environment, everyone wants things faster, including payments,”. The NACHA plan, though, wouldn't kick in for almost two years, as it would materialize in three phases starting in September 2016!
Originating financial institutions (ODFIs) would be able to submit files of same-day ACH payments through two new clearing windows provided by the ACH Operators: A morning window at 10:00 a.m. ET, with settlement occurring at 12:00 noon; An afternoon window at 3:00 p.m. ET, with settlement occurring at 5:00 p.m. The proposal excludes international transactions as well as transactions of more than $25,000.