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NEWS RELEASE
Contact:
NACHA Issues 2005 "NACHA
Top 50" Lists of Originating
and Receiving ACH Financial Institutions
San Diego,
California, May 8, 2006 - The Electronic Payments
Association released today at its PAYMENTS 2006
conference the NACHA Top 50 lists of the largest
originating and receiving financial institutions of
automated clearing house (ACH) payments for 2005.
"Inter-bank ACH
payments grew by 18.9 percent in 2005, which
combined with last year's performance has resulted
in a stunning 47 percent growth in just two years,"
said Elliott C. McEntee, President and Chief
Executive Officer of NACHA. "Much of the growth in
2005 is once again attributable to the Accounts
Receivable (ARC) and Internet (WEB) applications.
Financial institutions use these applications to
provide their business customers with the collection
of consumer remittances, and to service their own
portfolios of consumer credit card, mortgage and
loan payments."
The financial
institutions in the NACHA Top 50 of originating
institutions accounted for 93.1 percent of all
inter-bank ACH payments in 2005, up from 91.6
percent in 2004. The Top 5 institutions accounted
for 58.1 percent of all ACH origination activity;
the Top 10 accounted for 73.2 percent. Both of these
figures are increases of about 2 percentage points
over 2004.
On the receiving
side, the financial institutions in the NACHA Top 50
accounted for 52.8 percent of all inter-bank ACH
payments in 2005. The Top 5 institutions accounted
for 25.8 percent, and the Top 10 accounted for 34.2
percent.
The complete NACHA
Top 50 lists are 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 and benefits,
Direct Payment of consumer bills, e-checks,
business-to-business payments and Federal tax
withholdings. In 2005 there were nearly 14 billion
ACH payments worth $31 trillion.
About NACHA - The
Electronic Payments Association
NACHA is the leading
organization in developing electronic solutions to
improve the payments system. NACHA represents more
than 11,000 financial institutions through direct
memberships and a network of regional payments
associations, and 650 organizations through its
industry councils. NACHA develops operating rules
and business practices for the Automated Clearing
House (ACH) Network and for electronic payments in
the areas of Internet commerce, electronic bill and
invoice presentment and payment (EBPP, EIPP),
e-checks, financial electronic data interchange
(EDI), international payments, and electronic
benefits transfer (EBT). Visit NACHA on the Internet
at www.nacha.org.
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