Nacha

Triple digit growth in a single year shows you’re on to something. Such is the case with Same Day ACH. Since its 2016 debut, businesses small and large, financial institutions from Main Street to Wall Street, and consumers have embraced the benefits of Same Day ACH. Volume jumped 137% from 2017 to 2018, with nearly 178 million transactions last year.  But it’s still a work in progress. In fact, we have an enhancement coming in September, making funds available sooner in the day for many ACH credits.

Nacha applauds the Federal Reserve Board of Governors for issuing its proposal to extend its settlement services to support Same Day ACH enhancements with later settlement hours. The industry has spoken loudly in support of the expansion of Same Day ACH, and the public benefits it will provide for all businesses and consumers that use the ACH Network. Risks due to the extension of settlement hours can be mitigated with changes that Nacha believes the industry can gradually adopt over the next year and 10 months.

HERNDON, Va., Jan. 29, 2019 – ACH Network volume saw its biggest quarterly growth in more than a decade during the fourth quarter of 2018. Same Day ACH payments also passed a significant milestone.   More than 5.9 billion ACH payments were made in the final quarter of last year: 3.5 billion debits and 2.4 billion credits. That’s up 8.7 percent from the same time in 2017, and is the highest quarterly growth rate in 11 years.   Fourth quarter Same Day ACH volume was more than 51.3 million payments, marking the first time Same Day ACH payments surpassed the 50 million threshold.

The number of ACH payments totaled more than 5.6 billion in the third quarter of 2018, a 6.7 percent increase over Q3 2017, according to Nacha.