In this 90-minute information-filled session you will learn how this new Rule will allow all consumers, businesses, government entities and financial institutions (the ODFI, Originating Depository Financial Institution) that use the ACH Network to move money between bank accounts will benefit from the option to move ACH payments faster. This new ACH payment option is 'Same Day ACH' which gives clients the option to initiate and settle payments on the same day within the US.SECTION 8.99 "Same Day Entry"
An Entry, other than a debit Entry, in which the Effective Entry Date is the same Banking Day as the date on which the Entry is Transmitted by the ODFI to its ACH Operator, and that is Transmitted by the ACH Operator's deadline for same-day processing and settlement.
A few things that need to be kept in mind for phase I of Same Day ACH are:
Phase 1 - September 23, 2016 - already implemented
Phase 2 - September 15, 2017
Phase 3 - March 16, 2018
If you're an RDFI can you identify the difference between settlement and funds availability - this determines when funds are made available to the Receiver in the new Same Day ACH payment arena. Learn all scenarios that illustrate how these transactions differ from traditional ACH payments.
Hear from our Speaker
Why should you Attend?
Learn how the Originator or ODFI of ACH transactions, can leverage Same Day ACH to create competitive advantage and differentiate the organization? The steps taken by the Originator or ODFI of ACH transactions to offer this product and implement this feature with the companies who want to do this?
Explore the different high-growth areas in the payments ecosystem and the impact Faster Payments could have on them. Learn the beneficiaries of Faster Payments and the impact it will have when implemented fully.
Learn how Same Day ACH will solve for business pain points and how can they use Same Day ACH in the organization. There is a fee associated with the Same Day Entries - do you know how this works and how this may have an impact on you whether you are the ODFI or the RDFI?
If you're an RDFI can you identify the difference between settlement and funds availability - this determines when funds are made available to the Receiver in the new Same Day ACH payment arena.
Who will benefit?
This webcast will be of a valuable assistance to the below audience.
ACH, Same Day ACH Payment, ACH Transfer, Ach Debit, ACH Deposit, ACH Payment Processing, Bank Financial, ACH Transaction, ACH Credit And Debit, RDFI, ACH Processing, Same Day ACH, Accredited ACH Professional, ODFI, Business Payments, Banking Audit Firms
Donnas extensive knowledge, enthusiasm and passion for transferring payment processing knowledge using the adult learning theory is remarkable and has helped many payment professionals perform daily operational tasks including exception processing while remaining compliant with the NACHA Operating Rules. She uses scenarios and examples to bring the learning home, easy to comprehend and apply to real-life day-to-day ACH processing. Donna's ability to engage the learner through the entire training event
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