Coming Soon: One-Day E-Check Processing
Charleston Payroll Firm AAP Announces it Will Be Ready for the Change, and is in Compliance with All ACH Requirements
CHARLESTON, S.C., June 1, 2016 – Charleston payroll and human capital management (HCM) firm AAP announces it has passed its annual audit by the NACHA and is, once again, in full compliance with all requirements of the electronic payments governing organization. The company is also set to fulfill the association’s forthcoming rule requiring one-day processing of electronic checks.
Single-day processing of ACH transactions has been a financial industry goal for several years, and is due to become the standard by March of 2018, with three phases implemented beginning this September. AAP expects to be fully compliant well before the mandated cut-off, enabling clients to ensure employees’ salaries are available in their bank accounts the day their pay checks are issued.
“This has been a holy grail for the industry for some time, so now it’s time to stop talking about it and implement it. AAP will have its customers covered, sooner rather than later,” says Andrew Osborne, AAP’s president. “And our customers can rest easy knowing that we passed NACHA’s compliance audit with flying colors, as we have done every year.”
To be compliant, financial institutions and payment processing companies must stay current with a plethora of new rules and updates of existing rules mandated by NACHA each year, with the goal of securing and easing electronic payments. Companies that fail to do so risk losing their accreditation as an ACH Professional.
AAP, celebrating its 20th year in business, serves clients in all 50 states, providing human capital management (HCM) services integrating payroll, human resources, time and labor management, and payment solutions to businesses. AAP provides secure solutions for a proficient payroll system with additional services handling workers’ compensation, 401(k) and flexible spending accounts, and health insurance as well as ACA compliance. Its corporate headquarters are in Summerville, South Carolina. For more information, visit www.aappayroll.com.