According to the NACHA Operating Rules, the ACH Return process with current timeframes will remain the way it has been even though we are in the midst of the three-phase implementation of Same Day ACH. With the new Same Day ACH landscape, the additional processing windows “can” change the way Returns are processed (if the RDFI chooses to utilize this feature) to receive faster settlement on the returns without being subjected to the Same Day fee.
The ACH Return process and timeframes according to the Rules will remain the same. However, in the implementation phases of Same Day ACH, with the new Same Day ACH landscape and additional processing windows can change the way you process your Returns (if you choose to). Faster settlement on your returns without having to pay a Same Day fee. Real-life examples will be used to help identify details on doing the Return Entries – on the Same Day (Same Day Returns are NOT a requirement).
As an RDFI are you utilizing the full potential of the “return process” in the NEW Same Day Environment? You CAN do “Same Day” Returns WITHOUT having to pay the 5.2 cent fee for each Same Day Entry. Same Day Returns do NOT pay the fee but can receive settlement for the returns as soon as the same day.
Using the “Same Day Return” function is not mandatory and Returns can still be completed like they are today (processing exception items/returns on Day 2). But, if you knew that you “could” get same settlement for a return done on the same day of settlement – this is Not JUST about returning “same day” entries on the same day…this is taking any ACH item on any given day (exception or rejects report) and returning it the very same day!
As an RDFI are you utilizing the full potential of the “return process” in the NEW Same Day Environment? You CAN do “Same Day” Returns WITHOUT having to pay the 5.2 cent fee for each Same Day Entry. Same Day Returns do NOT pay the fee but can receive settlement for the returns as soon as the same day.
Using the “Same Day Return” function is not mandatory and Returns can still be completed like they are today (processing exception items/returns on Day 2). But, if you knew that you “could” get same settlement for a return done on the same day of settlement – this is Not JUST about returning “same day” entries on the same day…this is taking any ACH item on any given day (exception or rejects report) and returning it the very same day!
Donna K Olheiser
Donna K Olheiser, AAP, is the vice president of Education Services and founder of Dynamic Mastership, LLC. Donna is an enthusiastic and energetic Certified Master Trainer with over 14 years’ training experience. She has designed and facilitated over 100 training sessions each year with her expertise being the rules for companies and financial institutions when processing specifically ACH electronic payments, then scheduling the training events to facilitate/deliver the material through a variety of venues (webinars, teleseminars, in-person workshops, including regional and national conferences). Donna has over 24 years of experience in the financial services industry which includes 9 years’ experience …
Strategies For Job Seekers: Best Practices For A Strategic …
Dealing With Difficult People: At Work & In Life
I-9 Audits: Strengthening Your Immigration Compliance Strat…
Maximizing Productivity with ChatGPT: AI Solutions for HR, …
The Perfect Storm Coming to Healthcare: Value Based Care Me…
Excel - Reporting Simplified - Learn Pivot Tables from Scra…
Turning Workplace Conflict into Positive Connection
Retention Starts Here: Stop Losing Your Critical Talent and…
Project Management for Non-Project Managers - How to commun…
The Business Case for LGBTQIA+ Inclusion in the Workplace: …
AI and Human Resources: The Great Opportunity!
Conquer Toxic People - Learn To Protect Yourself And Get Yo…
AI-Powered Change Leadership Operationalizing AI: Practical…
Cyber Security Incident Response Team Training Program
Excel Power Skills: Master Functions, Formulas, and Macros …
Transforming Anger And Conflict Into Collaborative Problem …
The Courage to Speak: Overcoming Fear and Owning the Room
6-Hour Virtual Seminar on Learning the Highlights of Excel …
Finance & Accounting 101 Simplified
6-Hour Virtual Boot Camp on Microsoft Power BI
Developing an Agile Workforce with Emotional Intelligence (…
Compliance Under Fire: Navigating I9 Immigration Raids & …
FDA Regulation of Artificial Intelligence/ Machine Learning
Empowering Conflict Resolution: Letting Go to Gain Control
Human Error Reduction Techniques for Floor Supervisors
How to Give Corrective Feedback: The C.A.R.E. Model - Elimi…
Secrets Of Psychology - Why People Do The Things They Do
How To Conduct An Internal Harassment And Bullying Investig…
Leadership: Strategic Planning and Decision Making
Marketing to Medicare or Medicaid Beneficiaries - What You …
Polish your Presence on Linkedin - The Powerful Profile
Utilizing A Proven Process When Conducting Sensitive, Inter…
Bootcamp for New Managers and Supervisors: Develop These Es…
Leveraging Artificial Intelligence in HR