90 percent of banks report higher than anticipated same day ACH origination volume - report

Moreover, the Same Day ACH usage reaches 80% of respondents, who are expecting to see steady growth in 2017, according to a report issued by NACHA—The Electronic Payments Association®, the steward and rule maker of the ACH Network.

23 financial institutions, representing 63% of ACH Network origination volume, participated in a qualitative survey during December 2016 and January 2017 about Same Day ACH, an industry solution to move payments faster. The survey also shows that this faster payment solution is being implemented by businesses of all sizes. Of the financial institutions surveyed, 84% of respondents report they originated Same Day ACH transactions for middle market sized companies, 58% originated transactions for large companies and 37% say their small business clients are taking advantage of this faster payment option.

Additionally, Same Day ACH is being used for a variety of purposes, demonstrating the utility of this solution beyond the ability to make emergency payments. While 95% of surveyed financial institutions report that their clients are using Same Day ACH for emergency payments like payroll, 68% say clients are using it for one-time payments and 58% show businesses are using Same Day ACH to make regularly scheduled payments such as paying hourly employees.

One of the most important findings of this survey is that none of the respondents reported experiencing any increase in fraud due to Same Day ACH, whether as an originating or receiving financial institution. Same Day ACH by itself does not create any new vectors for fraud, such as new access channels or banking information.

Financial institutions surveyed report the following regarding Same Day ACH origination services:

• 55% report volume was as anticipated; 35 percent said volume was higher than anticipated
• 100% reported a “client success story” that involved support for payroll in a new way

Financial institutions surveyed report the following when receiving Same Day ACH transactions:

• 61% report volume received was as anticipated; 22 percent said volume was higher than anticipated
• 83% provided transaction information to corporate clients after every processing window, with 74 percent delivering information to clients within 60 minutes of each processing window.

By Sept. 15, 2017, financial institutions, processors and businesses should ensure they are prepared to receive and originate Same Day ACH debits by accessing the Same Day ACH educational resources at www.nacha.org/same-day-ach and performing adequate testing with stakeholders. Same Day ACH for debits will support significant industry uses cases such as consumer bill payment and account-to-account transfers.