In early December the Electronic Payments Association, alternatively known as NACHA, released more details on their proposal for a same-day ACH payments system while issuing a request for comments submitted by early February. Meanwhile the Federal Reserve is providing a multiyear roadmap for facilitating real-time payments and The Clearing House, a trade group representing large financial institutions, announced their plans to build a same-day payment system in October.
While these announcements, road maps and requests for comments show that ball is rolling, the planned same-day ACH settlement implementation isn’t expected to begin until September, 2016. Even this is just the beginning of a three phase process that will fully mature in March, 2018. While this needed evolution of the ACH payment systems may not be starting for more than a year, NACHA, The Clearing House (TCH) and the Fed will be taking measures this year in efforts to bring same-day ACH payments into fruition.