New Third Same-Day ACH Processing Window — Effective March 19, 2021
- A third Same-Day ACH processing window is being created, expanding Same-Day ACH availability by 2 hours to provide greater access for all Originators and their customers.
- The timing of this new processing window is intended to balance the desire to expand access to Same-Day ACH through extended hours with the need to minimize impacts on financial institutions’ end of day operations and the re-opening of the next banking day.
- Specific cut-off times for J.P. Morgan U.S. Same Day ACH origination will be determined.
- eLockbox Same-Day report delivery will be extended by approximately two hours, to 8 p.m. ET instead of 6 p.m. ET.
- Non-consumer receivers subscribing to eLockbox will be required to post same day entries received by J.P. Morgan by 5:30 p.m. ET with same-day value during their normal posting schedule.
Supplementing Fraud Detection Standards for WEB Debits — Effective March 19, 2021
- As a supplement to existing requirements, Originators of WEB Debits will be required to use a commercially reasonable fraudulent transaction detection system to ensure new and changed customer receiving accounts are able to successfully receive transactions prior to origination of WEB Debits.
- U.S. ACH Originators of WEB Debits may need to make changes to their account validation processes.
- J.P. Morgan offers tools and services to complete this validation, but you can use any commercially reasonable fraud detection system.
- Please reach out to your Relationship Management team if you have questions.
Differentiating Unauthorized Return Reasons – Phase 2— Effective April 1, 2021
- Re-purposed return reason code R11 will now be covered by the existing Unauthorized Entry Fee.
- Clients will be billed on their monthly statement of charges.
Supplementing Data Security Requirements – Phase 1 — Effective June 30, 2021
- The existing ACH Security Framework including its data protection requirements will be supplemented to explicitly require large, non-FI Originators, Third-Party Service Providers (TPSPs) and Third-Party Senders (TPSs) to protect account numbers collected for or used in ACH transactions by rendering them unreadable when they are stored electronically.
- Implementation begins with the largest Originators and TPSPs (including TPSs) and initially applies to those with ACH volume of 6 million transactions or greater annually.