Same-Day ACH Per Payment Limit Increases to $1 Million
On March 18, a change in the Nacha Operating Rules increasing the per payment limit for same-day automated clearing house (ACH) transactions became effective. The per payment maximum increased from $100,000 to $1 million and applies to all eligible same-day ACH payments, including credits and debits. In a press release, Nacha states that the increased “threshold is expected to create new use cases as well as expand existing uses for this faster payment method, including vendor and supplier payments for businesses, insurance claims, tax payments, and payroll funding.”
APA Support for Same-Day ACH
APA has consistently supported Nacha’s efforts to implement and then to expand the availability and capabilities of same-day ACH transactions. This support included a January 2021 comment letter favoring the increased payment limit. The increased limit may expand the use of same-day ACH by payroll professionals because a transaction of up to $1 million to fund a company’s payroll is now eligible for same-day settlement.
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Curtis E. Tatum, Esq., is APA’s In-House Counsel and Director of Federal Payroll Compliance.