HERNDON, Va.—NACHA, The Electronic Payments Association, reported that as it continues work to move the ACH Network from next-day settlement to same-day payment processing, results from an American Payroll Association survey show broad support for the benefits of same-day ACH.
The survey, conducted during National Payroll Week in September, targeted 1,500 payroll professionals nationwide. More than 90% of respondents indicated that same-day ACH would help them in meeting their payroll needs.
“Specifically, respondents indicated that enhancing existing ACH next-day capabilities with the option of same-day ACH would better support direct deposit functions (for hourly workers, temporary staff, and termination pay needs), contingency plans for missed deadlines, payroll error corrections, tax withholdings remittances, and remittances of garnishments,” NACHA said in a released statement.
The survey also found: 97% of respondents identified same-day ACH as a service that would add value to their organizations, and more than 86% confirmed that same-day ACH capabilities would benefit their organizations beyond payroll functions.
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