News Topic: ACH

The modern-day payment system was, over the last two decades, tailor-made for the shelter-in-place conditions many now live and work under today. ... Read full article

Ken Montgomery, who is heading up the Federal Reserve's faster payments network, says the agency is taking an incremental approach to launching the service. ... Read full article

To address immediate market demand but allow time for the project to be done right, the official leading implementation of FedNow says the central bank envisions an initial release in 2023 or 2024 followed by subsequent updates. ... Read full article

In a move to increase the attractiveness of its Real-Time Payment network, The Clearing House is raising the transactional limit for single payments to $100,000 starting Feb. 1. ... Read full article

The Federal Reserve is investigating what may have caused delays in the processing of ACH transactions that began late Wednesday and continued into Thursday morning. ... Read full article

If the deployment of faster payments came with a guarantee to boost a financial institution's bottom line, more banks and businesses would likely invest in bringing their legacy systems into a new age. ... Read full article

The Delaware company recently learned of a disputed transaction that could take a bite out of future earnings. ... Read full article

Congress should get behind the Fed's effort to launch a real-time payments service instead of getting in its way. ... Read full article

Increased adoption of The Clearing House’s faster payments system could put pressure on community banks and credit unions awaiting the launch of the Fed’s competing service, FedNow. ... Read full article

The Fed's development of a real-time payments systems has sparked a pointless debate about paper checks. ... Read full article

Community banks shouldn’t wait for the Fed to create a new real-time payments rail when consumers are already flocking to other options. ... Read full article

The current overdraft rules could use some tweaks, but it should largely remain the same to protect consumers. ... Read full article

There’s a long list of reasons traditional lenders haven't kept up with the needs of entrepreneurs, says Judith Erwin, the head of Grasshopper Bank in New York. One is not asking for enough feedback. ... Read full article

Competition from the public sector in payment services has benefited the public and should not be discounted in the development of a real-time system, said Kansas City Fed chief Esther George. ... Read full article

Banks and governments around the world have invested in systems that seek to instantly transfer money between accounts, moves that could put pressure on the sprawling debit-card business at the world’s largest payments network. But Visa Inc. Chief ... Read full article

Avidia Bank joins the network even as other community banks call on the Fed to create its own real-time payment service to compete. ... Read full article

Digit's savings app, relying on JPMorgan Chase's new real-time payments service, will offer customers an instant withdrawals feature that uses savings as a cushion against checking overdraws. ... Read full article

After more than two years of successful operation in delivering Same-Day ACH payments, Nacha's request to add a third processing window has been denied by the Federal Reserve, which says it has to obtain public comment on the concept. ... Read full article