Same day settlement

Same day settlement is when financial institutions use the same day processing option for settlement instead of the normal process of settling on the next business day.

For same day settlement, Business Rules supports the following things.

Determining whether a transaction is eligible for same day settlement.
Setting the distribution date for the transaction.
Setting the settlement date for the transaction.

The following Business Rules nodes are used for same day settlement:

Payment method out node: The PaymentMethodOutNode is used to determine whether a transaction is eligible for same day settlement and to select a same day endpoint for it.
Business day item node: The BusinessDayItemNode is used to determine whether the transaction was received in time for same day settlement. If it was, this node assigns the previously selected same day endpoint to the transaction. This node also sets several dates for the transaction, including the distribution and settlement dates.
Note: The workflows that are used for Check do not implement this node.

One of the attributes used to determine same day settlement eligibility is whether a participant is subscribed to the same day settlement service type. The manage participant pages can be used to subscribe participants to service types.