The one-year anniversary of Same Day ACH’s $1 million limit is March 18.
The higher per-payment limit was in effect for more than nine months of 2022, and the results for all of last year speak volumes (and value). The 697.5 million Same Day ACH payments was a 15.5% increase over 2021. And the $1.7 trillion those payments were worth reflect an increase of 86.3%.
“The ACH community asked for the higher dollar limit and it’s clear they are putting it to tremendous use,” said Debbie Barr, Nacha Senior Director, ACH Network Rules Process and Communications, who pointed to another stat as further proof.
“In 2022 there was a 44% jump in Business-to-Business payments using Same Day ACH. That’s part of an overall growth of nearly 12% in B2B payments on the ACH Network last year and highlights how organizations are continuing to move away from checks to not only ACH payments, but faster ACH payments,” said Barr.
In September, barely six months from now, Same Day ACH will turn 7. Nacha and its industry partners are always looking at ways to make it even better.