Each month, we publish updates to our FedReceipt, PDF and Endpoint-Culled Image Cash Letter (ICL) RTNs for FedForward® and FedReturn® Services deposits to reflect changes that have occurred in the previous month. Last year, we discontinued notices via FedFlash; however, we continue posting on the same schedule. To view these lists, please visit and bookmark the Check 21-Enabled Services Endpoint Tier Listings page.
Phase 2 of the NACHA Same Day ACH Rules change to allow debit entries along with the credit entries implemented under Phase 1 becomes effective on September 15, 2017. As with Same Day Automated Clearing House (ACH) credits, each Same Day ACH debit, provided all other requirements are also met, will result in the Same Day ACH Entry Fee of 5.2 cents being charged to the originating depository financial institution (ODFI).
If you answered yes to any of these questions, the FedPayments® Reporter Service Same Day Originated Batch Report can help. The report provides information on both potential Same Day ACH debits and current Same Day ACH credits.
The monthly report is delivered via encrypted email at a cost of $0.20 per email along with a manual reporting fee of $10 per report for FedPayments Reporter Service subscribers. Those not subscribing to the FedPayments Reporter Service will pay the per-email fee along with a manual reporting fee of $30 per report.
You can find information on both potential Same Day ACH debits and current Same Day ACH credits in the FedPayments® Reporter Service Same Day Originated Batch Report. FedACH Services customers interested in the monthly report should complete Part 6D, Section D of the FedACH Participation Agreement.
Effective September 15, 2017, with Phase 2 implementation of the Same Day ACH Rules change, a current-day or stale-day date in the effective entry date field of a debit entry will trigger same-day settlement (provided the other requirements are also met).
Every Automated Clearing House (ACH) network participant should be aware of the Same Day Entry Fee of 5.2 cents for each transaction processed and settled as Same Day ACH, whether intended or as the result of a stale date. This fee is assessed to originating depository financial institutions (ODFIs) and credited to receiving depository financial institutions (RDFIs).
Beginning with Phase 2 implementation, NACHA will assess that same entry fee against each debit entry that comes into the network and, provided all other requirements are also met, is processed and settled as Same Day ACH, whether intended or as the result of a stale date.
Preliminary review indicates the volume of stale-dated debit entries prior to Phase 2 implementation may be nearly double the number of stale-dated credit entries prior to Phase 1 implementation. Data on actual stale-dated debit volumes is being compiled, and we hope to be able to share more detail in next month’s issue of FedFlash.
With just over six months remaining until Phase 2 implementation, we encourage each of our FedACH customers to begin reviewing their origination volume to avoid any unwelcome surprises on their billing statements for September 2017 and beyond.
The FedPayments Reporter Service offers a monthly Same Day Originated Batch Report that provides details such as stale-date indicators and originator information for both debit and credit entries. For additional information on Same Day ACH, Phase 2 implementation and more, please visit the Fed’s Same Day ACH Resource Center.
Beginning with Phase 2 implementation of the Same Day ACH Rules change, NACHA will assess the Same Day Entry Fee against each originating depository financial institution (ODFI) for each debit entry that comes into the network and, provided all other requirements are also met, is processed and settled as Same Day ACH, whether intended or as the result of a stale date.
Federal Reserve Financial Services (FRFS) product managers and account executives are attending the Payments 2017 (Off-site Link) conference hosted by NACHA® on April 23-26, 2017 in Austin, Texas.
We look forward to speaking with attendees about innovations in the payments landscape such as faster payments and Same Day Automated Clearing House (ACH) Phase 2. We will also be available to review the suite of FRFS products and services available to help manage ACH payments and provide related information.
We will be at booth 1107 and hope to see you there.
"NACHA" is a registered trademark of NACHA - The Electronic Payments Association.
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