Same Day ACH: Costs, Limits, and Faster Ways To Pay

Key takeaways

• Use same day ACH to move money to any US bank account on the same business day, for payments up to $1 million.
• Compare costs before you send, since same day ACH usually runs about $1 to $5 while domestic wires cost about $25 to $30.
• Check your provider’s daily cutoff time so your payment settles the same business day.
• Consider paying by card through Melio when a vendor doesn’t accept cards, so you can pay fast and hold onto cash longer.

Why do late payments happen?

Late payments happen for a variety of reasons, including…

• You’re only human, you’re running a business, and juggling a million things at once
• Cash flow challenges, because of the economy, lack of marketing or maybe your own clients are late to pay, too
• You pay via check, and it sometimes gets lost in the mail
• Disorganized work culture

… but what matters is that you’re willing to make a change.

And that making this change is likely easier than you imagine.

What is same day ACH?

Same day ACH is an ACH bank transfer that clears on the same business day instead of in one to two days. It moves money electronically between US bank accounts through the ACH network, now processed in multiple windows each business day.

Once upon a time, ACH payments were only made within a few days of initiating the process. And they were done once a day at bulk.

What is an ACH? ACH stands for Automated Clearing House, and it’s a method of moving money electronically between bank accounts. Sometimes, it’s also referred to as ACH EFT.

Now, you can transfer money from one account to another via ACH multiple times during a business day, allowing your recipient to get paid the same day. Same day ACH is available for payments up to $1,000,000. Nacha has approved raising this per-payment limit to $10 million, effective September 17, 2027.

What are the benefits of same day ACH?

We love same day ACH because it helps companies…

• Easily pay on time even if they’ve been running behind on operations
• Pay a deposit to secure a service
• Buy a product at a discount price
• Provide bonuses or other necessary out-of-cycle payments for outstanding or temporary work
• Make an emergency payment, such as buying new machinery or getting plumbing work done to ensure business continuity

Meanwhile, you enjoy the usual ACH benefits, such as…

• Lower transaction fees than other payment methods
• Greater security, as no credit card information gets stolen and no check gets lost in the mail
• Relationship nurturing with vendors and employees, while protecting your brand reputation

How do same day ACH transactions work?

ACH bank transfers are a popular way to make business-to-business (B2B) payments, but how long does an ACH transfer take? A standard ACH transfer usually takes one to two business days to process because it moves through the ACH network.

One to two business days isn’t too bad, sure, but sometimes you need a faster option. Therefore, Nacha, the organization that regulates the network, also offers same day ACH transfers. Here’s how it works:

How much does same day ACH cost?

The price and availability of expedited transfers depend on your ACH service provider. Most banks don’t advertise their ACH fees. Same day ACH usually costs about $1 to $5 per payment, though some banks add a higher surcharge for expedited transfers.

Some banks offer accounts with same day or next day ACH transfers included.

Find the best terms and fees for same day ACH payments

Eligible Melio users can expedite their ACH payments by choosing same day delivery. Fast payments made after 2 p.m. Eastern will be delivered the next day. Melio’s free plan includes a set number of free ACH bank transfers each month, with paid plans for higher volumes. Check Melio’s pricing page for current fast payment fees.

Melio is considered one of the best ACH payment processing options for small businesses, offering transparent pricing and same-day ACH delivery for eligible users.

But check your options. You can compare the terms and fees of the different ACH service providers right here to find the best solution for your specific situation.

Other ways to pay fast

Same day ACH payments are wonderful, but aren’t the only way to pay fast. Keep the following options in your toolbox too.

Pay your vendor with a credit card (even if they don’t accept credit cards)

It sounds crazy, but it’s real—and simple to do. Services like Melio allow you to pay your business bills with a credit card, while your vendor still gets paid by an ACH transfer.

True story: If you use your credit card with Melio by 2 p.m. Eastern on a business day, your vendor gets paid the same day by an ACH bank transfer. The fee for this service is 2.9% of the transaction.

Benefits to paying your business bills with a credit card:

• Pay faster than you would with bank transfers.
• Defer payments and hold onto money longer. Paying with a credit card lets you enjoy the extra 45-day float until the next billing cycle, giving you more breathing room.
• Earn rewards. You can collect cash back, points, miles, and rewards with each payment.

Wire transfers

Wire transfers are another popular payment method, but which is faster—ACH or wire transfer? Wire transfers are faster than standard ACH, as the money moves directly between two financial institutions (point-to-point) rather than going through an ACH system. When you send a wire transfer, it’s usually processed the same day.

That said, wire transfers are substantially more expensive than standard and next day ACH. Pricing for outgoing domestic wire transfers ranges from $25 to $30 and can even go up to $50 for international transfers. Most banks also charge for incoming wire transfers.

How to get paid fast

Sometimes you’re the payer, sometimes you’re the vendor. If you want your business clients to pay you faster, make it easy for them. Melio lets your business customers pay you online by ACH for free, without having to sign up.

Here’s how it works:

• You send them a payment request with an attached invoice and a built-in pay button.
• All they have to do is click the button and schedule the payment.

Fast payments—a great solution, but here’s a better one

Fast payments are important to have in your arsenal when the occasional late payment ensues or when you urgently need to expedite a shipment of supplies. But fast payments often cost more and might challenge your cash flow, so depending on them entirely isn’t ideal.

Instead, gain control over your finances by planning your payments. You don’t have to do it manually. An effective online bill pay software can help you schedule payments ahead of time, track all your vendor bills, stay on top of all unpaid invoices easily, pay all invoices in minutes, and so much more—at a fraction of the cost.

To turn this into reality, try Melio’s bill pay service. We’ll help you take your bill paying game to the next level with faster payment speed than key competitors such as Bill and Quickbooks Bill Pay.

Same day ACH FAQs