Project Description

Water bottle and towel on weight bench by rack of dumbbell weights.Speed, convenience, and security. Same Day ACH users repeatedly cite those advantages when asked why they adopted this faster payment method.1 It helps explain the rapid growth of Same Day ACH, which launched credits in September 2016 and debits in September 2017. Last year, NACHA tallied 75.1 million Same Day ACH transactions, valued at more than $87.1 billion.2

Businesses of all sizes and industries have embraced Same Day ACH, and analysts predict even stronger adoption levels for 2018. Among companies surveyed, half expect to increase their use of Same Day debits this year; nearly 60 percent anticipate originating more Same Day credits.1

Get started quickly and easily

As your organization prepares its faster payments strategy, Same Day ACH makes a logical starting point. Because it leverages the systems and processes already in place for regular ACH transactions, it takes just a phone call to your bank to enroll for Same Day payments.3 Then, simply use the current day as the effective date in the batch header record of your payment file, and transmit your file by the Same Day processing deadline.

It’s just as easy to find ways to use Same Day ACH in your business. Any ACH transaction under $25,000 and made within the U.S. qualifies for Same Day processing.

Delight your customers, suppliers, and employees with faster payments

Here are a dozen opportunities to use credit or debit transactions to transform your business:

With your customers:

  1. Expedite refunds, rebates, or insurance claims payments for a stronger experience
  2. Accept bill payments on the due date, without incurring late fees
  3. Offer more options to make upfront deposits

With your employees:

  1. Issue emergency or off-schedule payroll
  2. Pay temporary or contract workers at the end of each shift
  3. Accelerate reimbursements for out-of-pocket expenses

With your suppliers:

  1. Maintain just-in-time inventory levels
  2. Maximize your Days Payables Outstanding (DPO) — without damaging supplier relationships
  3. Capture more early payment discounts

Within your organization:

  1. Accelerate funds transfers between company bank accounts or business units
  2. Strengthen business continuity with a back-up option for time-sensitive payments
  3. Improve staff productivity by verifying accounts more quickly and speeding up the returns process

Faster payments are the future. No matter which method you choose, or the type of business you run, there’s an opportunity waiting.

For more information, contact your treasury management representative.

1. and NACHA, “Same Day ACH Corporate Survey,” 2018
2. NACHA, “2017 Same Day ACH Volume” infographic
3. Same Day ACH requirements may vary by financial institution