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FedACH® SameDay Service Frequently Asked Questions

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General Questions

Q: How does the FedACH SameDay Service differ from the current service for processing and settling payments?

A: FedACH SameDay Service accomplishes processing/editing, distribution, and settlement of certain ACH forward payments during the current processing day. Currently, the earliest settlement for standard forward items, referred to as the “next-day” service, occurs on the morning of the banking day following the processing day that an item is received by FedACH Services.

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Q: Who can participate in FedACH SameDay Service?

A: FedACH SameDay Service is open to all FedACH Services customers that send to and/or receive from FedACH. Customers interested in the service should contact their FedACH Sales Specialist who can lead them through the sign-up process.

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Q: What are the participation options for ODFIs and RDFIs?

A:Service is opt-in for both the ODFI and RDFI, by agreement, and is available to any FedACH customer that sends to and/or receives from FedACH. Service participation is on a monthly cycle. For each customer RTN, participants may be an ODFI only, an RDFI only, or both an ODFI and RDFI for forward payments. ODFI only participants must receive same-day returns and RDFI only participants are allowed to originate same-day returns.

RDFI may elect, per RTN, to be either a multilateral or unilateral participant. Multilateral participants allow receipt of same-day payments from all ODFI participant RTNs. Unilateral participants allow receipt of same-day payments from one or more ODFI participant RTNs; RDFI specifies ODFI(s) in the FedACH Participation Agreement. The multilateral and unilateral services are mutually exclusive per RTN.

ODFI participants are allowed to send payments to all opt-in multilateral RDFI participant RTNs and to any unilateral RDFI participant RTNs agreeing to accept such payments. Acceptance is based on the multilateral/unilateral agreements that are in place.

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Q: What SEC codes does the FedACH SameDay Service support?

A: Service supports converted check payments (ARC, BOC, POP, and RCK) as well as TEL and WEB debit payments. Other debits, as well as credits and government payments, are not supported.

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Q: What is the transmission deadline for same-day forward payments?

A: Same-day forward items may be sent between 2:15 a.m. and 2:00 p.m. Items received by 2:00 p.m. will be delivered by 4:00 p.m., and settled at 5:00 p.m. Service uses the existing “immediate” exchange window that is used primarily for returns today. All times are in Eastern Time.

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Q: What is the transmission deadline for same-day return payments?

A: Return of same-day forward items may be sent between 2:00 p.m. and 4:30 p.m. Items received between 2:00 p.m. and approximately 2:45 p.m. will be delivered by 4:00 p.m. Items received between approximately 2:45 p.m. and 4:30 p.m. will be delivery by 5:00 p.m. For both deliveries, returns will settle at 5:30 p.m. Alternatively, RDFIs can use the existing “immediate” return service at 2:00 p.m. ET. Current return deadline rules apply. All times are in Eastern Time.

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Q: What is the time extension practice for the FedACH SameDay Service?

A: Customer-requested time extensions to the FedACH SameDay Service will not be granted. This applies to both the same-day forward and same-day return services.

A time extension may be granted for the same-day service if FedACH has operational problems. If deadlines are extended, FedACH will provide a 30 minute window between the final distribution of the same-day forward output file and the deadline for depositing same-day returns.

Due to operational considerations, the same-day forward deposit deadline will also be extended when the immediate return deposit deadline is extended. As is already the case, customer-requested time extensions for the immediate service will not always be granted.

Finally, same-day customers will be encouraged to sign up for the ENS (Email Notification System) that generates a notification when the immediate deadline is extended. Messages are also posted on Common Services.

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