NEWS RELEASE
CONTACTS:
Michael Herd
mherd@nacha.org
NACHA Top 50 List for 2000 Issued
Washington, DC, April 23, 2001— NACHA – The Electronic Payments Association released today at its PAYMENTS 2001 conference the NACHA Top
50 list of the largest originators of ACH payments for 2000.
"The Year 2000 was another year of tremendous activity and growth in the ACH industry," said Elliott C. McEntee, President and Chief Executive
Officer of NACHA. "NACHA congratulates all of the financial institutions that qualified for the NACHA Top 50 list."
The complete NACHA Top 50 list of largest originators of ACH payments for 2000 is available on NACHA's web site at www.nacha.org.
In its survey, NACHA counted all ACH-formatted transactions sent from a commercial financial institution to an ACH Operator – an electronic
clearing house among banks. ACH-formatted transactions remaining within a single institution – known as on-us payments – were excluded from the survey.
ACH payments include Direct Deposit of payroll and dividends, Direct Payment of mortgages, loans, insurance, utility and other bills, automated
savings or investment contributions, business-to-business payments, electronic checks, and, increasingly, e-commerce payments. In 2000 there were almost 6.9 billion ACH payments worth more than $20.3 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 12,000
financial institutions through direct memberships and a network of regional payments associations, and 600 organizations through its six 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 payment and presentment (EBPP), financial electronic data interchange (EDI),
international payments, electronic checks, and electronic benefits transfer (EBT).
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