NACHA Issues 2003 NACHA Top 50 Lists of Originating and Receiving ACH Financial Institutions

The financial institutions in the NACHA Top 50 of originating institutions accounted for more than 91.6 percent of all inter-bank ACH payments in 2003. The Top 5 institutions accounted for 52.8 percent of all ACH origination activity; the Top 10 accounted for 67.5 percent. On the receiving side, the financial institutions in the NACHA Top 50 accounted for 54.9 percent of all inter-bank ACH payments in 2003. The Top 5 institutions accounted for 24.9 percent, and the Top 10 accounted for 33.8 percent. The complete NACHA Top 50 lists are available on NACHAs web site at www.nacha.org. In its survey, NACHA counted all ACH-formatted transactions sent from a commercial financial institution to an ACH Operator - an electronic clearing house among banks. ACH-formatted transactions remaining within a single institution - known as on-us payments - were excluded from the survey. ACH payments include Direct Deposit of payroll and dividends, Direct Payment of mortgages, loans, insurance, utility and other bills, automated savings or investment contributions, business-to business payments, and, increasingly, e-checks payments. In 2003 there were more than 10 billion ACH payments worth $27.4 trillion.