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So what exactly makes this same day? Is it because there will be "two additional clearing windows"?
by hbcondo714 9y ago
So what exactly makes this same day? Is it because there will be "two additional clearing windows"?
- ryanworl 9y agoThat's part of it, but the mandate effective in March 2018 is also part of the "same day" speed. https://www.nacha.org/rules/same-day-ach-moving-payments-faster-phase-3 https://www.nacha.org/rules/same-day-ach-moving-payments-fas...
- hbcondo714 9y agoThanks, I was just reading the parent link to part 2. Makes sense they are making lower-risk / more trusted transactions faster, similar to remittance companies already.
- jameshart 9y agoThey now Uber the check from one bank to the other, instead of the previous mechanism of sending it via pony express.
- wmf 9y agoThanks to truncation, the pony express was replaced with faxes a few years ago.