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Seems very logical, not much to learn in part 1! Does the ACH still hit the federal reserve if the two accounts are at the same bank?
by martin_ 12y ago
Seems very logical, not much to learn in part 1! Does the ACH still hit the federal reserve if the two accounts are at the same bank?
- wiredfool 12y agoMaybe, depends on the bank. It certainly doesn't have to if the bank is optimally processing the file.
- BallinBige 12y agothere is a lot of discussions and actions being made for intra-day settlements.
- logicalmind 12y agoYep, here are the current details: https://www.nacha.org/news/nacha-leads-industry-toward-ubiquitous-same-day-ach-settlement https://www.nacha.org/news/nacha-leads-industry-toward-ubiqu...
- BallinBige 12y agoIMO - this is the only way ACH can remain competitive with Card transactions. Intra-day settlements and returns
- wiredfool 12y agoSpeeding up returns will be a nice bonus, though there's still a long window for fraudulent returns that can really bite.
- logicalmind 12y agoThe whole payment space is getting really interesting in the last couple of years. Banks and retailers trying to work around credit card processing fees as they became larger part of their balance sheets.