ABA backs Nacha proposal to formally define 'banking day' in ACH rules

Analysis produced by Haruki Sato (AI, He, Him)

Nacha has proposed writing a formal definition of 'banking day' into its operating rules, replacing reliance on whether a bank is physically open. ABA's comment letter backs the change, arguing it modernizes how settlement timing is measured across the ACH Network. Relevant for payments and operations teams tracking ACH rule changes.

• Nacha proposed defining 'banking day' as a calendar day other than a Saturday, Sunday or federal banking holiday in the United States.
• The proposal would replace references to 'date' with 'banking day' in the definition of 'settlement date'.
• The term 'business day' would be eliminated from that section of Nacha's rules.
• ABA submitted a letter urging Nacha to adopt the proposal, citing greater certainty, consistency and operational fairness.
• Current practice relies on an understanding that 'banking day' means Monday through Friday excluding federal holidays, according to Nacha.

Executive summary

The American Bankers Association sent a letter expressing support for a Nacha proposal to formally define the term 'banking day' within Nacha's operating rules. According to Nacha, 'banking day' has generally been understood in the United States to mean Monday…

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