HERNDON, Va. (PRWEB) April 09, 2020
The Nacha Top 50 rankings of financial institution originators and receivers of ACH payments for 2019 are now available.
Among originating financial institutions, the Top 50 handled ACH volume of nearly 21.3 billion payments last year, up 8.1% from 2018. They accounted for 92.3% of the ACH Network’s total commercial payments volume.
The Top 50 receiving institutions on the list saw ACH payment volume of 14.8 billion, an increase of 9.6% over 2018. These institutions accounted for 60% of total volume on the ACH Network, inclusive of payments received from the federal government.
Additionally, Nacha reported nearly 4 billion “off-Network” ACH payments in 2019. These are primarily “on-us” ACH payments for which the originating and receiving financial institution are the same, and so are not submitted to an ACH Operator. Including these off-Network payments, total ACH payment volume for 2019 was 28.8 billion, an increase of 6.3% from 2018.
The complete Top 50 lists can be found at https://www.nacha.org/sites/default/files/2020-04/2019_Nacha_Top_50_FINAL.pdf
Nacha is a nonprofit organization that convenes hundreds of diverse organizations to enhance and enable ACH payments and financial data exchange within the U.S. and across geographies. Through the development of rules, standards, governance, education, advocacy, and in support of innovation, Nacha’s efforts benefit all stakeholders. Nacha is the steward of the ACH Network, a payment system that universally connects all U.S. bank accounts and facilitates the movement of money and information. In 2019, 24.7 billion payments and nearly $56 trillion in value moved across the ACH Network. Nacha also leads groups focused on API standardization and B2B payment enablement. Visit nacha.org for more information, and connect with us on LinkedIn, Twitter, Facebook and YouTube.