For financial institutions, Same Day ACH will cost 5.2 cents a transaction, a fee that the ODFI will pay to the RDFI. Currently, traditional ACH transfers cost fractions of a penny. ACH operators usually collect these fees as part of a monthly billing process.

While financial institutions will be required to make the updates needed to receive Same Day ACH credits by September 2016, it will be their choice on how to make that functionality available. For instance, financial institutions may charge businesses for sending (originating) Same Day ACH payment functionality.

At Dwolla, we’ve built our payment APIs to be future ready to integrate new payment types, like Same Day ACH. We’re well-acquainted with the ACH network and we’re working to be well positioned to help your business manage the new Same Day ACH functionality.

Dwolla: An On-Ramp to the ACH Network

Dwolla offers an easy-on-ramp to the ACH network that makes it easy for businesses of all sizes to leverage bank transfers within their platforms or applications. The Dwolla White Label bank transfer API provides customers with everything from bank account verification tools to webhooks that make it easy to send branded communications to users about their account or payment status. Because the API is white labeled, no two integrations are the same. The customer is empowered to build their ideal payment flows and customize the user experience to fit their brand.

Additionally, Dwolla is excited to offer Same Day ACH to our customers. You can learn more about the offering and potential added value by reviewing Dwolla’s Same Day ACH Transfer API.

Reach out to a Dwolla integration specialist to talk through your payment needs, and we’ll work with you to determine a flat monthly fee that makes sense.

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