Banking · Payment Systems
How does the National Automated Clearing House (NACH) system handle transactions that fall on a bank holiday or a Sunday?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The funds are temporarily parked in an escrow account.
- 2Transactions are processed 24x7x365, including Sundays and gazetted bank holidays.✓
- 3The transaction is processed but settlement occurs only on the next working day.
- 4The transaction is rejected and must be re-submitted.
Correct answer
Transactions are processed 24x7x365, including Sundays and gazetted bank holidays.
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