On March 16, 2018, the third (and final) phase of the NACHA Same-Day ACH rules will go into effect. See this recipe in the Kitchen (https://www.cuanswers.com/resources/kitchen/same-day-ach/). As long as your evening posting configuration is set to post both debits and credits, you are already compliant with the same-day posting rules.
Why are you compliant?
- Phase 1 of Same-Day ACH required that specific credits be posted the same day.
- Phase 2 of Same-Day ACH required that specific debits be posted the same day.
- Phase 3 of Same-Day ACH requires that the same-day items be posted by 5:00 PM your local time. The final same-day item FRB file must be available to us by 4:00 PM ET, so we will receive and post at 4:00 PM ET to ensure that same-day items are posted properly.
This requires that we move the final ACH posting (‘In the evening run’) from 7:00 PM ET to 4:00 PM ET to ensure that all same-day items post by 5:00 PM ET. All credit unions will meet final same-day requirements, as any file posting by 5:00 PM ET will be posted at an earlier time as one were to move westward (i.e. – 4:00 PM CT, 3:00 PM MT, etc.)
To confirm your evening posting configuration, log into CU*BASE GOLD and select Tool #113 – ACH Posting Controls Config, then make sure that the selection for ‘In the evening run’ is set to ‘Post both credits & debits’ to ensure that all same-day items post. Since this was required for Phase 2 of same-day ACH, the configuration should already be correct.
The morning and midday posting times will remain unchanged. Returns must now be completed by 3:00 PM ET; we will transmit them by 4:00 PM ET FRB cutoff. All times are given in ET (Eastern Time) and, as always, will follow Daylight Saving Time changes.
Look for Phase Three of Same Day ACH to arrive on Friday, March 16
If you have any questions, please contact the CSR Team via phone at 616-285-5711 ext. 255, or Ask the AnswerBook.