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Table of Contents

Lead Story

Doing business in the mobile channel

Patti Murphy
The Takoma Group


Industry Update

Security standards lifecycle extended

Congress approves interchange regulation amendment

New ACH rules in step with Check 21

ETA unveils new logo

Trade Association News


GS Advisory Board:
Merchant retention, taking the initiative - Part 1

Selling Prepaid

Prepaid in brief

FinCEN seeks comprehensive AML framework

Prepaid largely spared in final Durbin Amendment


Strong relationship skills obliterate obstacles

Jeffrey Shavitz
Charge Card Systems Inc.


Street SmartsSM:
Should an industry attorney review your contracts?

Ken Musante
Eureka Payments LLC

Managing your most important asset

Jeff Fortney
Clearent LLC

De-commoditize continuously to conquer a crowded market

Daniel Burrus
Burrus Research Associates Inc.

Building a PCI program that works

Tim Cranny
Panoptic Security Inc.

Digital reputation management

Peggy Bekavac Olson
Strategic Marketing

Company Profile

ROAM Data Inc.

New Products

Loyalty program, in spades

GoMo Wallet
Gold Mobile, Telcordia Technologies Inc.

Cordless retrofit for dial-up

Nebo Wireless
Nebo Wireless LLC


Turn negative thoughts into positive action



Resource Guide


A Bigger Thing

The Green Sheet Online Edition

July 12, 2010  •  Issue 10:07:01

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New ACH rules in step with Check 21

The Federal Reserve Board's automated clearing house (ACH) settlement will soon have a more expedient option. As of Aug. 2, 2010, the Fed's rules for the new FedACH SameDay Service will go into effect. This represents the first material schedule change for forward ACH payments in 35 years.

The new clearing and settlement service will be available to FedACH Services customers only. It will be available on an opt-in basis for Originating Depository Financial Institutions (ODFIs) and Receiving Depository Financial Institutions (RDFIs) that complete the participation agreement.

The service applies to transactions arising from consumer checks converted to ACH, as well as consumer debit transfers initiated over the Internet and by phone. Other debits, as well as credits and government payments, will not be supported by the new service. The FedACH SameDay forward debit transfers will post to institutions' Federal Reserve accounts at 5:00 p.m., and SameDay return debit transfers will post at 5:30 p.m. Eastern Time.

Participation in the service is free for RDFIs, as there are no fees for receipt of forward payments or origination/receipt of these returns. However, monthly minimum fees may apply. Transaction fees will be charged to participating ODFIs for origination items and addenda originations. Returning FedACH SameDay Service forward items using the optional return service is free of transaction fees for ODFIs and RDFIs.

The accelerated service will more closely align with Check 21 premium service deposit deadlines and settlement times. The rules are designed to help financial institutions identify potentially fraudulent transactions more quickly and take corrective action sooner.

Depository institutions seeking further information about this service should contact their Federal Reserve Account Executive or visit To download the Federal Register notice, visit

Notice to readers: These are archived articles. Contact names or information may be out of date. We regret any inconvenience.

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