New Changes to ACH Payments

Sep 21, 2017


Same Day ACH (Automated Clearing House) Automated Payments now have the ability to post to your account earlier than you're used to.

Over half of Rally members have authorized outside companies or financial institutions to deduct payments for their regular bills directly from their Rally checking account. Due to a recent processing change made available by the National Automated Clearinghouse Association (NACHA), the national electronic payments association, those outside companies and financial institutions can now withdraw those funds from your account in one day. In the past payments to outside companies could take up to 2 days to be withdrawn. People who have automated payments set up may find their payments coming out of their account a day or two earlier than in the past. For example, if your agreement with your insurance company is to deduct your premium each month on the 11th of the month, but you’re used to seeing it come out on the 12th or 13th, it could actually clear your account on the 11th when this change becomes effective.

NACHA, the governing body that controls rules connected to how businesses process electronic transactions, has made available Same Day ACH, or same-day automated payment processing, effective September 15, 2017. That means the automated payment, whether a reoccurring or a one-time payment, could be taken out of an account and credited to the receiving business on the same day, instead of the next day. This also applies to any checks you write that get processed as electronic payments.

If you have automated payments set up, you don’t have to do anything because of this new option. We just want you to be aware of the potential for your payments to start coming out a day earlier than you may be used to. The date you originally set with your payees would be the date the payment comes out for any companies that choose to do Same Day ACH.

For more information about the NACHA rule changes, click here.