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Posts tagged as “NACHA”

Going Paperless: The Prequel


I had written a previous blog “Going Paperless” regarding paperless payroll as it pertains to the check stub, but I suppose I may have put the cart before the horse. You cannot really have a paperless payroll unless you get rid of the paycheck. Of course you have employees with direct deposit, but what about the unbanked, or those who may just prefer to get a check, rather than all of the conveniences of direct deposit? Are there ways to mandate direct deposit to become paperless? Yes, there are 25 states where the laws or enforcement positions can be interpreted…

Same Day ACH is Here! (sort of)


Same Day ACH becomes effective on Friday, September 23rd, 2016, and one of its primary uses will be for the Direct Deposit of payroll transactions.  Rather than the 1-2 day window for current ACH, payments will settle the same day for Same Day ACH.  Employers should understand how they can effectively use this for those same day deposit needs.  The nation’s 12,000 financial institutions will be implementing Same Day ACH, although some institutions may take longer than the end of business day to credit some employees’ accounts.  By March 2018, all financial institutions will credit Same Day ACH deposits to…