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Event Name:Same Day ACH Equals Faster Payments – The Nitty Gritty Details!
Date:Tuesday, January 24, 2017 11:00am CST
Presented By:BankersHub
Panelist(s) Info: Donna Olheiser AAP Vice President of Education Dynamic Mastership LLC
Credits:1.2 AAP Credits, 1.0 CPE Credit

This webinar will cover how this new Rule will allow (optional) financial institutions (the ODFI, Originating Depository Financial Institution) and businesses to acclimate to a faster processing environment with ACH transactions.  The RDFI (Receiving Depository Financial Institution) will be required to receive these types of Entries and provide funds availability to their account holders differently than they do today for these Same Day Entries.

Details in the webinar will include the three phases of implementation effort, with these new capabilities becoming effective over three phases beginning in September 2016 and ending in March 2018. Scenarios will also illustrate how these transactions differ from traditional ACH payments.

Training Highlights

  • List details on the three phases of implementation beginning September 2016 and completing 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, including 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
  • Review Phase 1 – which began September 2016