The payment landscape is evolving to meet the needs of consumers and businesses for faster payments. The launch of Same-Day ACH on September 23, 2016 gave businesses the option to send and receive domestic ACH credits of $25,000 or less the same business day###DISCLAIMER:2_0 About Same Day ACH###. With Same-Day ACH, your business will have the ability to send and receive ACH payments faster than ever before.
Same-Day ACH is being rolled out in three phases:
|Phase 1||Phase 2||Phase 3|
|September 23, 2016||September 15, 2017||March 16, 2018|
|ACH Credits||ACH Credits & Debits||ACH Credits & Debits|
|All financial institutions must be able to receive Same-Day ACH credits by the close of their business day. Origination of Same-Day ACH credits is optional for financial institutions.||All financial institutions must be able to receive Same-Day ACH debits by the close of their business day. Origination of Same-Day ACH debits is optional for financial institutions.||Receiving financial institutions will be required to make funds available to recipients by 5:00 p.m. local time.|
Union Bank is committed to following the Same-Day requirements with the launch of receipt of Same-Day ACH credits on September 23, 2016 and the receipt of Same-Day ACH debits on September 15, 2017. We now offer domestic Same-Day ACH credit origination, and we will begin offering Same-Day ACH debit origination in Q3 2018.
Click here to learn more about the benefits and uses of Same-Day ACH
Click here to learn more about how to start preparing for Same-Day ACH