NACHA has released its Top 50 rankings of originators and receivers of ACH payments for 2018.
The Top 50 originating financial institutions accounted for volume of more than 19.7 billion ACH payments, an increase of almost 7% from 2017. Nearly 93% of ACH Network commercial origination volume is attributable to these financial institutions.
On the receiving side, the Top 50 financial institutions accounted for volume of over 13.5 billion ACH payments, up nearly 8% from 2017. These financial institutions constitute 59% of the receiving volume on the ACH Network.
“From Direct Deposit to charitable giving to bill payments and more, the ACH Network increases its value to the US economy every year,” comments Jane Larimer, Chief Operating Officer NACHA.
NACHA also updated the 2018 total ACH payments volume to 27 billion transactions. This includes the 23 billion ACH Network payments, plus an additional 4.1 billion “off-Network” transactions, consisting primarily of on-us ACH payments, with a small volume of ACH direct-send payments.
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