Yes, and the cutoff time depends on how fast you’d like the ACH payment to arrive.

Same-day ACH payments
For an ACH payment to arrive the same day it’s sent, it needs to be submitted by 1:30 p.m. CT. If it’s sent after that time, but before 8 p.m. CT, it’ll be sent the next business day.  

Standard ACH payments
These ACH payments arrive in 1-3 business days. Day one is the day the payment is initiated, when submitted before 8 p.m. CT. Business days are Monday through Friday, excluding weekends and federal holidays.