ACH-NACHA

US batch ACH network governed by NACHA.

Definition

ACH uses NACHA file formats (CCD, PPD, WEB, IAT). Same Day ACH launched in 2016 and extended in 2017 then 2021 with USD 1M limit. 2024 volume: ~30 billion transactions. Faster Payments via RTP (Real-Time Payments) in 2017 and FedNow in 2023.

Origin

NACHA (National Automated Clearing House Association) founded 1974.

Example in context

An employer pays its 1000 employees via ACH PPD on Friday for Monday credit.

Related terms

• NACHA CCT — transaction codes.