Fort Knox National Bank Joins NACHA

Thursday 18 March 2004 09:57 CET | News

Fort Knox National Bank, a subsidiary of Fort Knox National Company, has joined NACHA - The Electronic Payments Association as its 18th financial institution member.

Fort Knox National Bank is the eighth fastest growing originating financial institution, according to the NACHA Top 50 list for 2002, processing 17.2 million payments worth over $15 billion for Fort Knox National Companys 700 clients. The list also ranked Fort Knox National Bank as the 23rd largest bank originator in electronic debit activity and 40th in overall origination volume. Fort Knox National Bank is also a member of NACHAs Council for Electronic Billing and Payment, Electronic Check Council, and Internet Council. NACHA now has 37 members consisting of 19 payments associations and 18 financial institutions. The other financial institution members of NACHA are ABN AMRO, American Express Centurion Bank, Bank of America, Bank One, BB&T Corporation, Capital One, Citibank, Commerce Bank, Discover Bank, FleetBoston Financial, J.P. Morgan Chase, Mellon, National City, PNC Bank, U.S. Bank, Wachovia, and Wells Fargo. NACHAs financial institution members originated more than 66 percent of commercial automated clearing house (ACH) transactions during 2002.

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Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce