Same Day ACH Clause Samples
The Same Day ACH clause establishes the terms under which Automated Clearing House (ACH) payments can be processed and settled on the same business day. It typically outlines eligibility criteria for transactions, submission deadlines, and any applicable fees or limitations, such as maximum transaction amounts. This clause ensures that parties can expedite electronic payments when necessary, providing faster access to funds and improving cash flow management.
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Same Day ACH. Customer’s may elect same day settlement for eligible ACH credit or debit entries subject to applicable cut-off deadlines and transactions fees, if any, as disclosed to Customer by Bank. All ACH transaction types are eligible (except pre-funded ACH and International ACH Transactions (IATs)) with a limit of $25,000 per transaction. Sending/Originating or Receiving/Originating an accepted file with an entry date of current day that falls within the same day origination window will be handled, processed, billed and settled as a same-day item provided Customer is enrolled for ACH Origination Service. Bank shall not be responsible if another receiving financial institution is unable to receive or initiate same day ACH payments, fails to act, fails to make funds available or fails to settle a same-day transaction timely. Customer is responsible for following appropriate NACHA rules for ACH transactions including proper authorization and timing for debits. Additional fees may apply for returned ACH transactions. Waiver of any of the foregoing conditions shall always remain completely discretionary with Bank. Waiver by Bank of a condition with respect to one or more Entries on one or more occasions shall not create a requirement or give rise to a presumption of future waivers with respect to other Entries. Bank shall never be obligated to waive any of the conditions based upon a pattern or practice of waivers, or based on any oral agreements, understandings or representations that such waivers shall be made.
Same Day ACH. Cut-off Time. The cut-off time for scheduling same day ACH transfers (if enabled on your Account) is 9:00 a.m.
Same Day ACH. The Bank may offer same day ACH services on a case-by-case bases depending on the company’s intended purpose. Company is required to request the capability through appropriate business channels. Additional fees will be associated with same day ACH transmission.
Same Day ACH. We offer an optional Same Day ACH service, as that service is defined by the ACH Rules. You must enroll in this optional service. For an Entry to be eligible for Same Day processing, the Entry must:
Same Day ACH. Customer’s may elect same day settlement for eligible ACH credit entries subject to applicable cut-off deadlines and transactions fees, if any, as disclosed to Customer by Bank. All transaction types are eligible (except pre-funded ACH and International ACH Transactions (IATs)) up to $25,000 per transaction. Sending/Originating an accepted file with an entry date of current day that falls within the same day origination window will be handled, processed, billed and settled as a same-day item provided Customer is enrolled for the Service. Bank shall not be responsible if another receiving financial institution is unable to receive same day ACH payments, fails to act, fails to make funds available or fails to settle a same-day transaction timely. Waiver of any of the foregoing conditions shall always remain completely discretionary with Bank. Waiver by Bank of a condition with respect to one or more Entries on one or more occasions shall not create a requirement or give rise to a presumption of future waivers with respect to other Entries. Bank shall never be obligated to waive any of the conditions based upon a pattern or practice of waivers, or based on any oral agreements, understandings or representations that such waivers shall be made.
Same Day ACH. Customer may, with prior approval by and at the sole discretion of Bank, transmit Same Day ACH Entries. An Entry for which the Effective Entry Date is the same Banking Day as the date on which the Entry is Transmitted prior to the applicable cut-off time, and an Entry with a stale or invalid Effective Entry Date shall be considered a Same Day entry. A Same Day Entry must be for an amount of $1,000,000 or less. An IAT Entry cannot be a Same Day Entry. Customer agrees to pay applicable Same Day Entry fees set forth in the Business Fee Schedule. *If Effective Date is not a Business Day, ACH instructions will be processed on the first Business Day following the Effective Date. If an Entry is rejected or returned, or if a notification of change is received, Provident shall notify Customer of the same by email.