Nacha has released its Top 50 rankings of financial institution originators and receivers of ACH payments for 2020.
The Top 50 originating financial institutions handled a volume of almost 23.1 billion payments last year, an increase of nearly 8.6% over 2019. They accounted for 92.7% of total commercial payments volume on the ACH Network.
Among receiving financial institutions, the Top 50 recorded a payment volume of 16.4 billion. That’s a nearly 11% increase from 2020, with those on the list accounting for 61.2% of total ACH Network volume, including payments received from the federal government.
“The volume increases in ACH payments in 2020 by banks and credit unions are truly remarkable given the challenges posed by the pandemic,” said Michael Herd, Nacha Senior Vice President, ACH Network Administration.
Additionally, Nacha reported nearly 4.3 billion “off-Network” payments last year. These are primarily “on-us” payments in which the originating and receiving financial institution are the same, and so are not submitted to an ACH Operator. Including these off-Network payments, 2020’s total ACH payment volume was 31.1 billion, an increase of 8.1% from 2019.
In 2019 the Top 50 handled volume of nearly 21.3 billion payments last year, up 8.1% from 2018. They accounted for 92.3% of the Network’s total commercial payments volume.
The Top 50 receiving institutions on the list saw volume of 14.8 billion, an increase of 9.6% over 2018. These institutions accounted for 60% of total volume on the Network, inclusive of payments received from the federal government.
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