March 18, 2022
Increasing the dollar limit has been a frequently asked for change by ACH end-users. Most recently, a summer 2020 survey of corporate ACH end-users resulted in recommendations for Same Day ACH:
- Increase or remove dollar limits
- Expand processing hours and days
The dollar limit increase in March 2020 had an immediate impact on the use of Same Day ACH
- The average amount of a Same Day ACH payment increased by 46% from February to April 2020
- Overall Same Day ACH dollar volume increased by 86% in 2020
June 30, 2022
In response to requests from some covered parties in 2020 for additional time to come into compliance with the Rule requirements, Nacha extended each of the two effective dates by one year; Phase 1 of the Rule, which applies to ACH Originators and Third-Parties with more than 6 million ACH payments annually, became effective on June 30, 2021, and Phase 2 of the Rule, which applies to ACH Originators and Third-Parties with more than 2 million ACH payments annually, will be effective on June 30, 2022.
This effective date was affirmed in ACH Operations Bulletin #7-2020. Nacha will not enforce this rule for an additional period of one year from the effective date with respect to covered entities that are working in good faith toward compliance, but that require additional time to implement solutions. This applies to both phases of this rule. Nacha strongly encourages all such covered entities to work towards compliance as soon as possible.
SEPTEMBER 16, 2022
SEPTEMBER 30, 2022