Can your company benefit from faster payments?
Same-day ACH was introduced back in 2016, giving businesses the opportunity to send their payments out faster than the typical one to two-day window. Businesses use same-day ACH to process payroll, giving additional time to prepare and submit, remit payments for invoices possibly resulting in a discount, and also quicker bill payment for credits and debits. Faster payments are instrumental in the cash flow of a business.
The new changes that are on the horizon for same-day ACH will greater benefit businesses by faster funds availability (September 2019), reduce cost by using ACH versus wire transfers of transactions 100K or less (March
2020) and a new processing window with expanded hours (September 2020). Each new phase allows financial institutions to assist their client’s needs in the exchange of money between customers and their vendors/employees in an always changing financial environment.
11601 Bluegrass Parkway
Louisville, KY 40299
502.633.4450 or 866.633.4450