ACH Transaction Posting During Holiday Closings
Written By Danita Moss, AAP, Southern Financial Exchange
SFE would like to remind you that closing your financial institution during times the ACH Operators are open for business does not relieve you of the NACHA Operating Rule requirement for making credit funds available and also does not extend your ACH Return timeframe.
ACH files and exception processing should be completed on days the ACH Operators are open for business to mitigate risk of losses.
All Pre-Arranged Payment and Deposit credit Entries made available for receipt from the ACH Operator by 5:00 p.m. local time on the Banking Day prior to the Settlement Date, are required to be made available to the Receiver by opening of business on the Settlement Date. All other credit Entries are required to be made available no later than end of processing on the Settlement Date.
Same Day ACH Credit Entries are required to be made available no later than 5:00 p.m. RDFIs local time on the Settlement Date.
All ACH Debits including Same Day ACH Debit Entries are required to be posted on the Settlement Date of the ACH Entry.
Therefore, if your Financial Institution closes before the last file that can contain Same Day ACH Entries is received, your Financial Institution must ensure that file is processed and the Same Day Entries in the file are posted that day.
All consumer and non-consumer Entries are required to be returned to the ACH Operator by its deposit deadline for the Return Entry to be made available to the ODFI by opening of business on the second Banking Day following the Settlement Date of the original Entry. (RCK and consumer adjustment Entries are excluded from this requirement).
If you have any questions on ACH transaction posting during the holidays, please reach out.
Phone: (504) 525-6779