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- Payment services modifications approved in support of Same Day ACH
December 23, 2019
The Board of Governors of the Federal Reserve System has approved modifications to the Federal Reserve Banks’ FedACH® Service, National Settlement Service (NSS) and Fedwire® Funds Service to help facilitate adoption of a later Same Day automated clearing house (ACH) processing and settlement window.
Specifically, the Federal Reserve Banks will:
Read the Board’s press release (Off-site)
These changes are in response to a rule change approved by Nacha’s voting members to create a third new processing window for Same Day ACH items. The Federal Reserve Banks will make these changes in alignment with, and in support of, Nacha’s effective date of March 19, 2021. We will provide additional information regarding the changes closer to implementation.
A third Same Day ACH processing window aligns with the Federal Reserve's ongoing objective to support improvements in the speed, security and efficiency of payment systems in the United States as well as public interest in the greater availability of payment services. More information will be available on the Same Day ACH Resource Center.