Thread: Why are 'electronic transactions'...
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Old 11th February 2007, 11:15 PM
lojo lojo is offline
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There's a graphic on page; http://www.nacha.org/About/what_is_ach_.htm that shows the process. And here are the 'rules' http://ebt.nacha.org/docs/Chapter_6.pdf

"Example 2: Transactions performed after
Thursday Business Day cut-off time and before Sunday
cut-off time shall be settled to Acquirers on Monday
Business Day)."

Hope that helped.
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