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NEWS RELEASE
CONTACT:
NACHA Issues 2004 "NACHA Top 50" Lists of
Originating and Receiving ACH Financial Institutions
San Antonio, Texas, April 11, 2005 –
NACHA - The Electronic Payments Association released
today at its PAYMENTS 2005 conference the NACHA Top
50 lists of the largest originating and receiving
financial institutions of automated clearing house
(ACH) payments for 2004.
"Inter-bank ACH payments grew by a record 23.7
percent in 2004, the highest rate since NACHA became
an independent organization in1986," said Elliott C.
McEntee, President and Chief Executive Officer of
NACHA. "Much of the growth in 2004 is attributable
to financial institutions that are using ACH debits
such as ARC and WEB 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 91.6 percent
of all inter-bank ACH payments in 2004, the
identical percentage as in 2003. The Top 5
institutions accounted for 56.7 percent of all ACH
origination activity; the Top 10 accounted for 71.6
percent. Both of these figures are increases of
about 4 percentage points over 2003.
On the receiving side, the financial institutions in
the NACHA Top 50 accounted for 52.1 percent of all
inter-bank ACH payments in 2004. The Top 5
institutions accounted for 25.7 percent, and the Top
10 accounted for 33.7 percent. Just as on the
originating side, these figures show some
concentration among the Top 10 institutions, but not
among the Top 50 as a whole, indicating that there
is significant growth in ACH payments for financial
institutions outside the Top 50.
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. 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 2004 there were more than 12
billion ACH payments worth $28.7 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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