Nacha implements the same day ACH expansion

Created: March 31st 2022

US industry consortium Nacha has announced the implementation of the increase in same day ACH payments to $1 million per payment from 18th March 2022.

In 2021, it announced that it would implement in a year given the rise of use of ACH by all vertical payment sectors.

As noted by Nacha president, two years ago it raised the per limit transaction to $100,000 and now it is going for a $1 million limit for all ACH operators, banks and credit unions across the country.

“The need for faster payments has never been more evident,” said Jason Carone, Senior Vice President of ACH Product Management, The Clearing House. “During the pandemic, businesses and consumers shifted to faster payment methods and that trend is continuing. Increasing the Same Day ACH transaction limit to $1 million is good for not only businesses and consumers, but for the entire economy.”

The use case defined by the Nacha in the press note for raising the limit includes for faster payments, including vendor and supplier payments for businesses, insurance claims, tax payments and payroll funding.

Back in Q4 2021, the company revealed that it recorded 9.1 billion payments valuing those at $72.6 trillion, backed by B2B payments with payments volume of B2B payments was 5.3 billion valued at $50 trillion.