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NEWS RELEASE
NACHA Issues “NACHA
Top 50” Lists of Originating and Receiving ACH
Financial Institutions for 2006
Chicago,
Illinois, April 16, 2007 - NACHA – The
Electronic Payments Association released today at
its PAYMENTS 2007 conference the NACHA Top 50 lists
of the largest originating and receiving financial
institutions of automated clearing house (ACH)
payments for 2006.
“Financial
institutions accounted for a 16.5 percent increase
in ACH Network payments in 2006,” said Elliott C.
McEntee, President and Chief Executive Officer of
NACHA. “Combined with previous years’ record
results, financial institutions’ ACH volume has
increased by 71 percent in just three years.”
The financial
institutions in the NACHA Top 50 of originating
institutions accounted for 95.7 percent of all
inter-bank ACH payments in 2006, up from 93.7
percent in 2005. The Top 5 institutions accounted
for 59.1 percent of all ACH origination activity;
the Top 10 accounted for 76.0 percent.
On the receiving
side, the financial institutions in the NACHA Top 50
accounted for 59.2 percent of ACH payments, up from
52.8 percent in 2005. The Top 5 institutions
accounted for 28.5 percent, and the Top 10 accounted
for 38.1 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, Social Security
benefits and tax refunds, Direct Payment of consumer
bills, bill payments by Internet and telephone,
check conversion, business-to-business payments, and
Federal tax withholdings. In 2006 there were nearly
16 billion ACH payments worth more than $33 trillion.
About the ACH
Network and NACHA - The Electronic Payments
Association
The Automated Clearing House (ACH) Network
facilitates commerce, electronically, by serving as
an efficient, reliable and secure payments system.
NACHA, led by member depository financial
institutions and payments associations, fulfills
this purpose by managing the development,
administration, and governance of the ACH Network,
and by providing superior services and value to its
members as the industry association responsible for
ACH payments. 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.
Visit NACHA on the Internet at
www.nacha.org.
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