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New same-day ACH Service nothing to get excited about for B2B.

The board of Governors of the Federal Reserve System announced that effective August 2, 2010 only certain ACH debit transactions will be eligible for same day availability. Many corporations were expecting more.

The service is limited to origination of non-government debit payments and includes only the following ACH codes:

ARC

Accounts Receivable Entry

BOC

Back Office Conversion

POP

Point-of-Purchase Entry

TEL

Telephone Initiated Entry

RCK

Represented Check Entry

WEB

Internet-Initiated Entry

Click here to read the full Fed release.