| Title: | CURRENT ACH DEBIT PROCESS |
|---|---|
| Date: | 2000-08-21 |
| To: | abi |
| Links: | previous, next |
TO: ACH PARTICIPANTS (BROKERS, IMPORTERS, AND OTHER INTERESTED PARTIES)
SUBJECT: CURRENT ACH DEBIT PROCESS
ADMINISTRATIVE MESSAGE 98-0883 OF OCTOBER 8, 1998 AND 94-0054 OF JANUARY
14, 1994 OUTLINED THE ACH PAYMENT PROCESS AND THE TIMEFRAMES WITHIN
WHICH A PAYER'S ACCOUNT IS DEBITED. THE ELECTRONIC FUNDS TRANSFER
PROGRAMS PRESENTLY USED THROUGHOUT THE BANKING INDUSTRY REQUIRE CUSTOMS
TO MODIFY SOME OF THE INFORMATION AND INSTRUCTIONS YOU HAVE BEEN GIVEN
IN THE PAST. THIS ADMINISTRATIVE MESSAGE DESCRIBES THE ACH DEBIT
PROCEDURES CURRENTLY IN EFFECT AND SUPERCEDES ALL PREVIOUS
ADMINISTRATIVE MESSAGES ON THIS SUBJECT.
WHEN AN ACH PAYMENT AUTHORIZATION IS SUCCESSFULLY TRANSMITTED, THE ABI
FILER RECEIVES A "PAYMENT ACCEPTED" MESSAGE. IN GENERAL, PAYMENT
AUTHORIZATIONS ACCEPTED BETWEEN 6:00 A.M. AND MIDNIGHT ON A GIVEN DAY
ARE BATCHED IN CUSTOMS' END-OF-DAY PROCESSING AND SENT TO CUSTOMS' ACH
PROCESSOR BANK THE FOLLOWING DAY. PAYERS' FINANCIAL INSTITUTIONS
PERFORM "ELECTRONIC SWEEPS" OF THE CUSTOMS BANK AT THEIR OWN INTERVALS,
TRANSFERRING THE DATA REQUIRED TO DEBIT PAYERS' ACCOUNTS. SUFFICIENT
FUNDS SHOULD BE AVAILABLE AT THE TIME AN ACH PAYMENT IS AUTHORIZED.
ACH TRANSACTIONS WILL USUALLY, BUT NOT NECESSARILY ALWAYS, BE DEBITED
FROM THE PAYER'S ACCOUNT BY THE PAYER'S FINANCIAL INSTITUTION TWO
BUSINESS DAYS FROM THE DATE THE ACH PAYMENT TRANSMISSION IS ACCEPTED BY
ABI. BUSINESS DAYS NOW INCLUDE FEDERAL HOLIDAYS AND BANK HOLIDAYS.
THIS NOT ONLY MEANS THAT HOLIDAYS ARE INCLUDED WHEN COUNTING TWO
BUSINESS DAYS, BUT ALSO THAT AN ACCOUNT MAY BE DEBITED ON A HOLIDAY.
BECAUSE BANKING INSTITUTIONS PERFORM "ELECTRONIC SWEEPS" AT DIFFERENT
TIMES, IT IS NOT POSSIBLE TO GUARANTEE THAT EXACTLY TWO BUSINESS DAYS
WILL ELAPSE BETWEEN THE TIME OF ACH PAYMENT AUTHORIZATION AND THE ACTUAL
DEBIT. THE PRECISE TIMING OF AN INDIVIDUAL DEBIT IS DETERMINED SOLELY
BY THE ACH PAYER'S BANK. CERTAIN PAYERS' BANKS HAVE BEEN FOUND,
ALTHOUGH INFREQUENTLY, TO DEBIT ACCOUNTS ON SATURDAYS AND SUNDAYS.
TO AVOID POTENTIAL PAYMENT PROBLEMS, THE U.S. CUSTOMS ACCOUNTING
SERVICES DIVISION VERY STRONGLY URGES ALL ACH PAYERS TO ENSURE THAT
SUFFICIENT FUNDS ARE AVAILABLE AT THE TIME EACH AND EVERY ACH PAYMENT
TRANSACTION IS AUTHORIZED.
ALSO, IN ORDER FOR THE PROGRAM TO REMAIN EFFECTIVE AND EFFICIENT, ANY
PAYER UNIT NUMBER (PUN) NOT USED FOR PAYMENT AUTHORIZATION WITHIN A
TWO YEAR PERIOD WILL BE DELETED.
*** *** *** *** *** *** *** *** *** *** *** ***
CSMS #01-000750