Same Day ACH - How to prepare yourself for all three phases, 2017 and beyond

         In this 90-minute information-filled session you will learn how this new Rule will allow all consumers, businesses, government entities and financial institutions (the ODFI, Originating Depository Financial Institution) that use the ACH Network to move money between bank accounts will benefit from the option to move ACH payments faster. This new ACH payment option is 'Same Day ACH' which gives clients the option to initiate and settle payments on the same day within the US.

SECTION 8.99 "Same Day Entry"

         An Entry, other than a debit Entry, in which the Effective Entry Date is the same Banking Day as the date on which the Entry is Transmitted by the ODFI to its ACH Operator, and that is Transmitted by the ACH Operator's deadline for same-day processing and settlement.

        A few things that need to be kept in mind for phase I of Same Day ACH are:

• Ensure the ACH settlement account is funded "Same Day" to cover these ACH transactions
• Not all ACH transactions benefit from Same Day ACH
• "Effective entry date" of the origination account should be same day

This session includes the 3 phases of implementation effort

Phase 1 - September 23, 2016 - already implemented

• All RDFI's guarantee funds by end of their processing day
• ODFI's may offer origination for credits only

Phase 2 - September 15, 2017

• All RDFI's must guarantee funds by end of processing day
• ODFI's may offer origination for credits and debits

Phase 3 - March 16, 2018

• All RDFI's must guarantee funds by 5PM their local time
• ODFI's may offer origination for credits and debits

If you're an RDFI can you identify the difference between settlement and funds availability - this determines when funds are made available to the Receiver in the new Same Day ACH payment arena. Learn all scenarios that illustrate how these transactions differ from traditional ACH payments.

         Learn how the Originator or ODFI of ACH transactions, can leverage Same Day ACH to create competitive advantage and differentiate the organization? The steps taken by the Originator or ODFI of ACH transactions to offer this product and implement this feature with the companies who want to do this?

         Explore the different high-growth areas in the payments ecosystem and the impact Faster Payments could have on them. Learn the beneficiaries of Faster Payments and the impact it will have when implemented fully.

         Learn how Same Day ACH will solve for business pain points and how can they use Same Day ACH in the organization. There is a fee associated with the Same Day Entries - do you know how this works and how this may have an impact on you whether you are the ODFI or the RDFI?

         If you're an RDFI can you identify the difference between settlement and funds availability - this determines when funds are made available to the Receiver in the new Same Day ACH payment arena.

Topics covered include:

• List details on the three phases of implementation
• Phase 1 with credits - already in effect this September 2016
• Phase 2 & 3 in the future with Debits in September of 2017 and Phase 3 in March 2018
• Define the two new clearing windows are for Same Day ACH transactions offered by the ACH Operators and what this means to ACH payments using examples and scenarios
• Identify in detail, the difference between funds availability and settlement
• Outline the methodology of determining if a Same Day Entry Fee will be charged to the ODFI and provided to the RDFI to help recover fees associated with enabling and supporting Same Day ACH
• Provide fee amount details for Same Day ACH Entries and how the fee(s) will be collected and distributed

This webcast will be of a valuable assistance to the below audience.

• Branch Manager
• ACH operations officer
• Compliance officer
• ACH managers
• aspiring AAPs (Accredited ACH Professional)
• Electronic Payments Professionals
• Banking staff
• IT Officer

Organizations/Companies

• Banks
• Banking Audit Firms
• Originators of ACH payments
• Any company that potentially sends ACH payments into the network - debits or credits (could be your insurance companies - collecting debits)