article thumbnail

Fed Seeks Comment On New Operating Hours For Fedwire Funds

PYMNTS

13, 2018, NACHA , the rules and standards body for the ACH network, announced that its voting members had approved amendments to the NACHA Operating Rules & Guidelines to establish a third Same Day ACH processing and settlement window,” the Federal Reserve wrote in the announcement. “On Sept.

FedWire 51
article thumbnail

ACH SEC Codes

Payment Savvy

It can take three or more business days before you’ll be able to see the transaction. Just like everything, they also have their downsides – in this case, the most important one being how much time it takes for the transaction to appear in your bank account. Using the wrong SEC code can also result in an ACH return.