According to the NACHA Operating Rules, the ACH Return process with current timeframes will remain the way it has been even though we are in the midst of the three-phase implementation of Same Day ACH. With the new Same Day ACH landscape, the additional processing windows “can” change the way Returns are processed (if the RDFI chooses to utilize this feature) to receive faster settlement on the returns without being subjected to the Same Day fee.
The ACH Return process and timeframes according to the Rules will remain the same. However, in the implementation phases of Same Day ACH, with the new Same Day ACH landscape and additional processing windows can change the way you process your Returns (if you choose to). Faster settlement on your returns without having to pay a Same Day fee. Real-life examples will be used to help identify details on doing the Return Entries – on the Same Day (Same Day Returns are NOT a requirement).
As an RDFI are you utilizing the full potential of the “return process” in the NEW Same Day Environment? You CAN do “Same Day” Returns WITHOUT having to pay the 5.2 cent fee for each Same Day Entry. Same Day Returns do NOT pay the fee but can receive settlement for the returns as soon as the same day.
Using the “Same Day Return” function is not mandatory and Returns can still be completed like they are today (processing exception items/returns on Day 2). But, if you knew that you “could” get same settlement for a return done on the same day of settlement – this is Not JUST about returning “same day” entries on the same day…this is taking any ACH item on any given day (exception or rejects report) and returning it the very same day!