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Are You Ready For NACHA's Same Day ACH Plan?

by Tom McCurnin
Leasing News Legal Editor

The Federal Reserve along with American Bankers Association and Independent Community Bankers of America commended the National Automatized Clearing House Association (NACH), the Electronic Payments Association, same day ACH program. The Fed came down in full support of the program, stating that NACHA's proposed rule will "facilitate the use of the ACH network for certain time-critical payments, accelerate final settlement, and improve funds availability to payment recipients." Phase 1 will become effective September 23, 2016.

To determine if same day ACH is right for you, NACHA has implemented an "Originating Depository Financial Institution" check list as well as a "Receiving Depository Financial Institution" check list.

While many mobile payments and bank-to-bank transfers are being offered
by many banks, and mobile payment programs for savings and loans, as well as credit unions, the bottom line for equipment lessors is the Fed's unanimous positive signal of support will make same day ACH a reality next year, improving cash flow for equipment lessors.

ODFI check list

RDFI check list

"Real Time in Real Life" NACHA Paper
The Impact of a Real-Time Payments system on its Users

Tom McCurnin is a partner at Barton, Klugman & Oetting
in Los Angeles, California.

Tom McCurnin
Barton, Klugman & Oetting
350 South Grand Ave.
Suite 2200
Los Angeles, CA 90071
Direct Phone: (213) 617-6129
Cell (213) 268-8291
Visit our web site at
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Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.