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NACHA approved Same-Day ACH to be rolled out over the course of the next three years, with phase one going into effect September 2016. While most in the industry consider Same-Day ACH a major win to move funds faster, there are a lot of considerations to ensure your community bank is not only processing correctly, but that you are also prepared to minimize exposure to losses. During this webinar, we will review some common misunderstandings and questions surrounding Same-Day entries processing to ensure your bank is prepared for each phase of implementation.
Attendees will develop a to-do list and have hands-on practice in determining if an entry is same-day or next day settlement.
In this webinar we will evaluate:
- Same-Day ACH background
- How Same-Day ACH affects community banks and their customers
- How to prepare for Same-Day ACH
- The phases of implementation
- How to tell if an entry is Same-Day
- Which entries are allowed in Same-Day ACH and which are prohibited
- The need for educating business customers
- Key considerations selecting business customers who are approved to use Same-Day ACH
- Opportunities for community banks
- Anticipated challenges
- Considerations for managing enhanced risk and fraud potential
Who Should Attend:
Operations, Management, Account Officers, Compliance, Auditors
Same-Day ACH: Are you ready?(
Questions and Answers