Same Day ACH Generated More Than 13 Million Transactions, Totaling Nearly $17 Billion

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The Faster Payments Option Continues to Deliver Strong Transaction Volume and Value

Same Day ACH, a new, ubiquitous faster payment option

We are encouraged by its performance thus far, and look forward to seeing Same Day ACH continue to provide value for its users in 2017.

NACHA—The Electronic Payments Association®, the steward and rule maker of the ACH Network, today released Same Day ACH transaction volume data for Sept. 23-Dec. 31, 2016, highlighting strong performance of the ubiquitous faster payment option in its first three months-plus of operation.

Same Day ACH, an industry initiative to move payments faster, launched its first phase last September by making ACH credit transactions eligible for same-day processing. Through the end of 2016, Same Day ACH was responsible for more than 13 million credit transactions totaling nearly $17 billion with an average transaction amount of $1,283.

“In its first three months of operation, Same Day ACH has proven that it is a valuable faster payment solution for a variety of users, including businesses, consumers, and financial institutions” said Janet O. Estep, president and CEO of NACHA. “We are encouraged by its performance thus far, and look forward to seeing Same Day ACH continue to provide value for its users in 2017.”

Additional data and usage information from Sept. 23-Dec. 31, which is also available in a Same Day ACH volume infographic, includes:

  • The greatest number of Same Day ACH payments were Direct Deposit via ACH transactions, which made up 52 percent of Same Day ACH volume with 6.8 million transactions. These transactions, which include emergency payroll and pension payments, totaled $5.9 billion.
  • Business-to-business payments also saw significant Same Day ACH use, making up 32 percent of Same Day ACH volume with 4.1 million transactions. Same Day ACH business-to-business payments totaled $8.8 billion.
  • Other uses for Same Day ACH included person to person payments, which saw 1.8 million transactions totaling $1.2 billion, and consumer bill payments, with almost a quarter million transactions that amounted to $733 million.

Financial institutions, processors and businesses should ensure they are prepared for phase two Same Day ACH for debit transactions, which becomes effective Sept. 15, 2017. Same Day ACH for debits will support significant industry uses cases such as consumer bill payment and account-to-account transfers. Same Day ACH educational resources are available at NACHA’s PAYMENTS conference, The Payments Institute and Resource Center.

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About NACHA—The Electronic Payments Association
Since 1974, NACHA–The Electronic Payments Association has served as trustee of the ACH Network, managing the development, administration and rules for the payment network that universally connects all 12,000 financial institutions in the U.S by moving money and information directly from one bank account to another. Financial institutions exchange 24 billion ACH payments valued at $41 trillion annually. Through its collaborative, self-governing model, education, and inclusive engagement of ACH Network participants, NACHA facilitates the expansion and diversification of electronic payments, supporting Direct Deposit and Direct Payment via ACH transactions, including ACH credit and debit payments, recurring and one-time payments; government, consumer and business transactions; international payments, and payments plus payment-related information. Through NACHA’s expertise and leadership, the ACH Network is now one of the largest, safest, and most reliable systems in the world, creating value and enabling innovation for all participants. Visit nacha.org for more information.

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Kendra Beasley
NACHA - The Electronic Payments Association
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