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The Green Sheet Inc.
NACHA lists top 50 ACH FIs
Orlando, Fla., Apr. 6, 2009 -- NACHA – The Electronic Payments Association issued its list of the top 50 originating and receiving financial institutions of automated clearing house (ACH) payments for 2008 at its PAYMENTS 2009 conference today.
“Despite the prolonged economic downturn and unprecedented change within the industry, ACH payment volume grew by 1.2 billion in a very turbulent year,” said Janet O. Estep, president and chief executive officer of NACHA. “Financial institutions value the benefits that the ACH Network provides to them and to their customers through its safety, efficiency, and quality ─ attributes that carry even greater significance in difficult times.”
The financial institutions in the NACHA Top 50 originating institutions accounted for 88 percent of all interbank ACH payments in 2008, representing a decrease from 95.5 percent in 2007. The top five originating institutions accounted for 61.2 percent of all interbank ACH payments, up from 56.3 percent in 2007. The top ten originating institutions accounted for 73.3 percent of all interbank ACH payments, up slightly from 72.5 percent in 2007.
On the receiving side, the financial institutions in NACHA’s Top 50 accounted for 55.3 percent of all interbank ACH payments in 2008, representing a decrease from 59.8 percent in 2007. The top five receiving institutions accounted for 31.6 percent of all interbank ACH payments, up from 28.5 percent in 2007. The top ten receiving institutions accounted for 39.4 percent of all interbank ACH payments, up slightly from 38.3 percent in 2007.
A complete listing of NACHA’s Top 50 lists is available on NACHA’s Web site at www.nacha.org .
In the Top 50 data, NACHA includes all ACH-formatted transactions that financial institutions sent to or received from an ACH Operator—an electronic clearing house among banks—or directly to or from another financial institution. ACH-formatted transactions remaining within a single institution—known as “on-us” payments—are excluded from the Top 50 results.
ACH payments include Direct Deposit of payroll, expenses, Social Security benefits, tax refunds, and stimulus payments, Direct Payment of consumer bills, bill payments by Internet and telephone, check conversion, business-to-business payments, and Federal tax withholdings.
NACHA — The Electronic Payments Association NACHA — The Electronic Payments Association is a not-for-profit association that oversees the Automated Clearing House (ACH) Network, a safe, efficient, green, and high-quality payment system. More than 15,000 depository financial institutions originated and received 18.2 billion ACH payments in 2008. NACHA is responsible for the administration, development, and enforcement of the NACHA Operating Rules and sound risk management practices for the ACH Network.
Through its industry councils and forums, NACHA brings together hundreds of payments system stakeholder organizations to encourage the efficient utilization of the ACH Network and develop new ways to use the Network to benefit its diverse set of participants. NACHA represents nearly 11,000 financial institutions through direct membership and 19 regional payments associations. NACHA and its members provide education, tools,
and resources to increase the adoption of ACH payments to benefit businesses, consumers, and governments. To learn more, visit www.nacha.org and www.electronicpayments.org .
Source: Company press release.
