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EMB Offers Same Day ACH Processing Through Multiple ACH Partners

The Automated Clearing House (ACH) Network is the main network that processes much of the financial transactions in the US.

ACH Processing

Thanks to the ACH Network, money and information can be sent from one bank account to another through Direct Deposit and Direct Payment via ACH transactions. The latter transactions include:

  • ACH credit and debit transactions
  • Recurring and one-time payments
  • Government, consumer and business-to-business transactions
  • International payments
  • Payments plus payment-related information

Each year, the ACH Network processes over $41 trillion and 24 billion electronic financial transactions. The ACH Network is among the world’s largest, safest and most reliable payment systems. It creates value and enables innovation for all participants.

When it comes to Same Day ACH, this is a new rule adopted by the National Automated Clearinghouse Association (NACHA). The latter manages the development, administration, and governance of the ACH Network. As a result, payments are being processed within 1 business day and not the next day or day after. Same Day ACH enables the same day processing of most ACH payments.

EMB has recently announced Same Day ACH processing partnerships. Merchants find ACH processing one of the most reliable ways to collect funds from customers. Most merchants prefer ACH processing as it allows for setting up legitimate debits drawn from customer’s checking accounts. Thanks to the ACH processing offered by (EMB), these debits can be scheduled as a one-time occurrence, or on a regular recurring basis.

Same Day ACH Phases

Same Day ACH was designed to become effective over three phases beginning in September 2016. The aim was to allow financial institutions and businesses to adjust to a faster processing environment and ease the implementation process. Particularly:

Phase 1: NACHA adopted a Rule to provide a new, ubiquitous capability that would help move ACH payments faster. The same-day processing was meant for virtually any ACH payment.

Phase 2: Beginning September 15, 2017, Same Day ACH will be available for debit entries, enabling the same-day processing of virtually any ACH payment.

Phase 3: Beginning March 16, 2018, Receiving Depository Financial Institutions (RDFIs) will be mandated to make funds available from Same Day ACH credits (such as payroll Direct Deposits) to their depositors by 5:00 PM at the RDFI’s local time.

If you’re interested in Same Day ACH, turn to EMB, the #1 high risk payment processor in the US that boasts an A+ rating with the BBB. Now, you can secure Same Day ACH processing through EMB’s strategic partnerships.