ACH Volume Doubles In Five Years
Nearly 14 billion Automated Clearing House (ACH) payments were made in 2005, a 16.2 percent increase over 2004, according to statistics compiled by NACHA - The Electronic Payments Association. Annual ACH payment volume has doubled in the last five years, spurred by growth across all transaction categories and newer applications used primarily to collect consumers' bill payments.
The nation's financial institutions originated 17.4 percent more ACH payments in 2005 than in 2004. The number of these payments was 12.98 billion, a jump of more than 1.9 billion over 2004, and valued at $27.9 trillion. The remainder were originated by the federal government - 976 million ACH payments in 2005, up 2.6 percent, and valued at $3.2 trillion.
The Automated Clearing House Network grew by 17.3 percent in the first quarter 2006 compared to a year ago, according to NACHA statistics. More than 2.98 billion transactions were conducted during the quarter, worth more than $6.4 trillion. These figures represent growth rates of 17.3 percent and 12.6 percent, respectively, over the same quarter of 2005. There were 1.69 billion debits and 1.29 billion credits in the first quarter, for a total of 2.981 billion. The statistics include commercial inter-bank and government transactions, but not “On-Us” transactions.
This issue home | Back | Next