FREQUENTLY ASKED QUESTIONS
Kentland Bank offers a wide variety of consumer, business, and agricultural loans to meet your needs.
implementation “Phases”
Same Day ACH will build upon existing next-day ACH Network capabilities. While the infrastructure is already in place there are many changes that need to occur to get everyone involved in the ACH payments network ready. The best way to do that was to roll it out in phases.
PHASE I 2016
ACH Credits September 23
You can initiate ACH credit transactions for same day settlement. Receiving institutions are required to post funds to the recipient's account same day.
PHASE II 2017
ACH Debits September
ACH debit transactions will be eligible for Same Day ACH.
PHASE III 2018
Earlier funds availability March
All receiving financial institutions will be required to make funds available to
recipients by 5:00 p.m. local time.