Same-Day Growth Helps ACH Network Move Payments

The National Automated Clearing House (ACH) for Electronic Funds Transfers moved 7.5 billion payments totaling $19.6 trillion in the second quarter of this year, driven by growth in same-day ACH payments and business-to-business (B2B) payments.

The second quarter marked the first time the same-day ACH dollar limit was raised to $1 million per payment from $100,000, a change that went into effect March 18. Changes to the ACH network are made and implemented in conjunction with the Federal Reserve and The clearing house.

See also: Nacha Increases Per-Payment Limit for Same-Day ACH to $1 Million

“The payments community has called for the $1 million limit, and ACH operators and financial institutions have joined Nacha in making it a reality. The results show the benefits of Same Day for ACH network users,” Jane Larimerchairman and CEO of Nacha, said in a Press release Tuesday (August 2).

nacha recently reported on how the University of Kentucky moved checks to ACH same day to address payroll issues during the pandemic. This is one of the many use cases for Same Day ACH,” Larimer continued.

Nacha manages the administration, development and governance of the ACH network, which is the electronic system that facilitates the movement of money in the United States

Read more: Nacha launches resource guide for voice payments

“There were 185 million same-day ACH payments transferring $486 billion in the second quarter, respective increases of 24.4% and 94.4% over the same period in 2021,” the statement said.

B2B volume rose 12.3% in the second quarter with 1.5 billion payments, an upward trend that began before the pandemic and intensified during the roughly two-year period of global shutdowns.

“This growth reflects the addition of more than 250 million payments, even in the absence of pandemic-related relief payments,” Larimer said. “This is a testament to the strength, stability and reliability of the modern ACH network.”

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