Key Take Away:
Get details on what just happened with the adoption of the new Same Day ACH Rule and what it will do for the ACH payments network and identify the impact on financial institutions (ODFIs and RDFIs), including their originators.
Earlier this year, on May 19, 2015, the Electronic Payments Association (NACHA rules) approved Same Day ACH transactions which will enable the faster movements of payments by enabling same day settlement for virtually any ACH payments network.
With this new Rule, two new same day settlement windows will be added to the network, increasing funds movement to three times each day. The rule will enable Originators that desire same-day processing the option to send same-day ACH transactions to account at any RDFI. For Receiving Institutions (RDFI), the Rule will require them to receive same day transactions and give faster funds availability to their account holders.
In this 90-minute information-filled webinar you will learn how this new Rule will allow financial institutions and businesses to acclimate to a faster processing environment, as well as to ease the implementation effort, these new capabilities will become effective over three phases beginning in September 2016 and ending in March 2018.
Why Should You Attend:
• Describe what just happened with the adoption of this new Rule and what will it do for the ACH Payments Network
• Identify the impacts on financial institutions (ODFIs and RDFIs), including their Originators
• List details on the three phases of implementation beginning September 2016 and completing in March 2018
• Define the two new clearing windows are for Same Day ACH transactions offered by the ACH Operators and what this means to ACH payments using examples and scenarios
• Outline the methodology of calculating the Same Day Entry Fee being charged to the ODFI and provided to the RDFI to help recover fees associated with enabling and supporting Same Day ACH
• Establish guidelines for preparation of the new Same Day ACH Rule
• Determine “next steps” in preparing for Phase 1 – which begins September 2016
Areas Covered In This Webinar:
• How the new Rule varies slightly from the original RFC (Request For Comment)
• Dates for each phase in the implementation process and what is happening
• 10 primary use cases for Same Day ACH
• What types of ACH payments are NOT part of the Same Day ACH payments
• How Same Day ACH is “optional” for use by Originator and ODFI; but “mandatory” receipt of these entries for RDFI
• Impacts on the ODFI and Originator including the optional Same Day indicator for use only by these parties
• Procedure change suggestions for the ODFI to handle the Originators who do not want to use the Same Day service
• Impacts on the RDFI with discussion on changes for the receipt and processing of ACH file in new environment
• Details on how credit funds availability rules are changing for the RDFI and what does this mean to your financial institution during each phase of the implementation
Who Will Benefit:
• Financial Institution Executives and Professionals
• Banking Operations Managers and Staff
• Compliance and Risk Professionals
• Treasury Management Professionals
• AAP’s (Accredited ACH Professionals)
• Payroll Processors
• Company / Business Owners (Originators)
• Banking Managers/ Supervisors
• Third-Party Service Providers and Third-Party Senders
• Audit and Compliance Personnel / Risk Managers
Donna K. Olheiser
Donna K Olheiser, AAP, is the Vice President of Education Services and founder for Dynamic Mastership, LLC. She is an enthusiastic and energetic Certified Master Trainer with over 14 years’ experience. She has designed and facilitated over 150 training sessions each year with her expertise being the Rules for companies and financial institutions when processing electronic (specifically ACH) payments, then scheduling the events to facilitate/deliver the material through a variety of venues (webinars, tele-seminars, in-person workshops, including regional and national conferences).
For more detail please click on this below link:
Toll Free: +1- 844-414-1400
Not sure if you want to exhibit at or attend the Same Day ACH - Faster Payments Rules - By AtoZ Compliance? See the panels below to get the information you need to make an informed decision.
|Conference/Event Dates:||10/25/2016 - 10/25/2016|
|Other Industries:||Banking-Money-Finance, Business|
|Cost to Attend:||Live Webinar- $145.00 for one participant|
|Audience:||Financial Institution Executives and Professionals
Banking Operations Managers and Staff
Compliance and Risk Professionals
Treasury Management Professionals
AAPs (Accredited ACH Professionals)
Company / Business Owners (Originators)
Banking Managers/ Supervisors
Third-Party Service Providers and Third-Party Senders
Audit and Compliance Personnel / Risk Managers
|Show Owner:||AtoZ Compliance|
|Sponsorship Details:||AtoZ Compliance|
|Booth Size||Booth Cost||Available Amenities|
|Marketing Vehicles Allowed:||n/a|
|Other Booth Sizes Available: n/a|
How do I show up here?
Add a note here, it is only visible by you.