ACH Network shows strong Q1 growth
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,
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Shorter settlement cycle means banks’ brokerage services face challenges
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.
NACHA Expands Same-Day ACH Limit to $1M
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.
The Clearing House: ACH Transaction Volume on EPN Network Outpaces National Level
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%.
NACHA: ACH Transaction Volume, Value Grow in 2021
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.
ABA Recommends to NACHA Not to Change Early Funds Availability Rules
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.
Financial Trade Groups Address Confusion Around Economic Impact Payment Date
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.
NACHA Sees Record Spike in ACH Payments during Pandemic
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.
ABA Calls for ‘Circuit Breaker’ ahead of ACH Threshold Increases
The American Bankers Association on Friday provided feedback to NACHA on its proposed plan to increase the dollar limit for same-day ACH transactions.
IRS: ‘Get My Payment’ Portal Now Live
The Internal Revenue Service today announced that the Get My Payments portal—available in English and Spanish—is now live for individuals to log on and view the status of their economic impact payment.