The Automated Clearing House Network processed 30 billion payments valued at $76.7 trillion in 2022, representing a 3% increase in the volume of payments from the previous year, network administrator Nacha announced this week.
B2B payments increased by 15.5% from Q1 2021, with more than 1.4 billion ACH B2B payments made. It’s also a 35.5% increase from Q1 2020,
Banks that retain more of their brokerage activity in-house but outsource functions such as trade execution or clearing to third parties will face bigger hurdles.
As expected, NACHA today increased the dollar limit for same-day ACH transactions from $100,000 to $1 million. The change was executed in collaboration with the Federal Reserve and The Clearing House, the network’s two ACH operators.
As bank customers increasingly turn to electronic payments, the Clearing House today announced that transaction volume on EPN, its ACH network, increased 9.6% in 2021, outpacing the overall 2021 U.S. ACH network volume increase of 8.7%.
Electronic ACH payment transaction volume grew by 8.7% last year, reaching 29.1 billion transactions, according to a report today from NACHA, the electronic payments association.
The American Bankers Association last week urged NACHA not to change rules around financial institutions offering early funds availability due to the lack of statistical evidence, despite anecdotal stories of the practice increasing liabilities.
In response to confusion about when consumers can access the latest round of economic impact payments, the American Bankers Association joined a coalition of nine financial trade groups today in issuing a statement confirming that the Internal Revenue Service chose March 17 for EIP funds to become available.
A total of 26.8 billion payments were made on the ACH Network in 2020—up 8.2% from a year prior—with a record of more than 2 billion new payments added, according to new figures released by NACHA today.
The American Bankers Association on Friday provided feedback to NACHA on its proposed plan to increase the dollar limit for same-day ACH transactions.