Announcements, Around the Fed, Press Releases

Federal Reserve to Support Same Day ACH with Extended Operating Hours

In response to industry comments on its Federal Register notice (Off-site), the Board of Governors of the Federal Reserve System has approved modifications to the Federal Reserve Banks’ FedACH® Service, National Settlement Service (NSS) and Fedwire® Funds Service to help facilitate adoption of a later Same Day automated clearing house (ACH) processing and settlement window.

Voting members of Nacha (Off-site) approved creation of a third processing window for Same Day ACH items in September 2018, to take effect in March 2021. A third Same Day ACH processing window aligns with the Federal Reserve’s ongoing objective to support improvements in the speed, security and efficiency of U.S. payments – and with the public’s interest in greater availability of payment services.

Read the Board’s press release (Off-site) to learn about the new, later FedACH Service processing window; extended NSS and Fedwire Funds Service daily operating hours; and other changes. Visit the Same Day ACH Resource Center (Off-site) for operational information closer to the implementation date.

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