Complete Story
 

06/24/2016

Same Day ACH Qualified Batch Reporting

Same Day ACH Qualified Batch Reporting

To All FedACH® Services Customers

As we noted in our March 2016 letter, the Phase 1 implementation of Same Day ACH will mean that credit entries received before the same day submittal deadlines with an invalid, stale or current date in the effective entry date field will settle as same day transactions, provided that other requirements are also met (see the Same Day ACH “Overall Edits and Reject ProcessFAQ).

New Report Available to Assist
With the implementation date of Sept. 23, 2016, quickly approaching, we are happy to announce the availability of a new operational report to assist FedACH customers in their efforts to identify which of their forward batches could potentially qualify as same day after Phase 1 implementation.  This mostly operational report will analyze previous month forward batches and will list originator information, pertinent same day qualification data, entry counts and dollar totals.

In our role as an ACH Operator, we recognize the importance of helping to prepare ACH industry participants for a seamless implementation of the Same Day ACH rule, and we view this reporting capability as a key component of this effort.  At this point, our plan is to begin providing interested FedACH customers with these origination information reports in July and to continue doing so on a monthly basis through a September 2016 report.  The reports will be generated during the first week of the month and will provide the details of each batch processed in the prior month that may have been processed as Same Day ACH volume.  (We hope to announce plans soon for a for-fee monthly Origination Batch report—including Same Day processing details—as part of our FedPayments® Reporter Service.  Details on this report will follow, and it may be offered as soon as October, 2016.)
 
The monthly reports will be emailed to designated recipient(s) at an originating depository financial institution using ZixCorp as a means to secure the email as well as the attachment.   No ZixCorp software or components are required for the ODFI to receive the reports. 

How to Subscribe
If your institution is interested in receiving this new report, please contact FedACH and Check Services Customer Support at (877) 372-2457 to complete the subscription process.

Printer-Friendly Version