If the scheduled date of an ACH debit falls on the weekend, can we debit the customer's account on Friday? Apparently we are doing this and I don't feel it's right. How about loan payments? I always believed that a loan payment due on the weekend became due on Monday or the next business day.

We have a number of mortgagors who make their payments via EFT. Whenever the scheduled debit date is a non-business day, the debits have posted the first business day thereafter. As far as I know, this is not something that we control (I set up the debits on our servicing system); it is systemic. I could be wrong on that, though.

Refer to OG 53 in the 2003 NACHA Rules. NACHA rules require a debit entry to be made on the settlement date or later, not before.

Ditto what Anon said.

OR 14 includes Subsection 4.4.2 "An RDFI must not debit the amount of any entry to a Receiver's account prior to the Settlement Date of the entry, even if the effective entry date of the entry is different from the Settlement Date of the entry."

Ditto Robert & Anon. This is one area of the mandatory annual NACHA Rules audit for RDFIs.