Earlier this year, on May 19, 2015, the Electronic Payments Association (NACHA) approved Same Day ACH which will enable the faster movements of payments by enabling same day settlement for virtually any ACH payment. With this new Rule, two new same day settlement windows will be added to the network, increasing funds movement to three times each day. The rule will enable Originators that desire same-day processing the option to send same-day ACH transactions to account at any RDFI. For Receiving Institutions (RDFI), the Rule will require them to receive same day transactions and give faster funds availability to their account holders. In this 90-minute information-filled session you will learn how this new Rule will allow financial institutions and businesses to acclimate to a faster processing environment, as well as to ease the implementation effort, these new capabilities will become effective over three phases beginning in September 2016 and ending in March 2018.

Course Objectives:

• Describe what just happened with the adoption of this new Rule and what will it do for  the ACH Payments Network
• Identify the impacts on financial institutions (ODFIs and RDFIs), including their Originators
• List details on the three phases of implementation beginning September 2016 and completing in March 2018
• Define the two new clearing windows are for Same Day ACH transactions offered by the ACH Operators and what this means to ACH payments using examples and scenarios
• Outline the methodology of calculating the Same Day Entry Fee being charged to the ODFI and provided to the RDFI to help recover fees associated with enabling and supporting Same Day ACH
• Establish guidelines for preparation of the new Same Day ACH Rule
• Determine “next steps” in preparing for Phase 1 – which begins September 2016

Course Outline:

• How the new Rule varies slightly from the original RFC (Request For Comment)
• Dates for each phase in the implementation process and what is happening
• 10 primary use cases for Same Day ACH
• What types of ACH payments are NOT part of the Same Day ACH payments
• How Same Day ACH is “optional” for use by Originator and ODFI; but “mandatory” receipt of these entries for RDFI
• Impacts on the ODFI and Originator including the optional Same Day indicator for use only by these parties
• Procedure change suggestions for the ODFI to handle the Originators who do not want to use the Same Day service
• Impacts on the RDFI with discussion on changes for the receipt and processing of ACH file in new environment
• Details on how credit funds availability rules are changing for the RDFI and what does this mean to your financial institution during each phase of the implementation

What You Get:

• Training Materials
• Live Q&A Session with our Expert
• Participation Certificate
• Access to Signup Community (Optional):
• Reward Points

Who Will Benefit:

• Financial Institution Executives and professionals
• Banking Operations managers and staff
• Compliance and Risk professionals
• Treasury Management
• AAP’s (Accredited ACH Professionals)
• Payroll Processors
• Company / Business Owners (Originators)
• Banking Managers/ Supervisors
• Third-Party Service Providers and Third-Party Senders
• Audit and Compliance Personnel / Risk Managers