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Automated Clearing House ( ACH ) Growth
According to The Electronic Payments Association (NACHA), the number of Accounts Receivable (ARC) e-check payments exceeded 432 million in the third quarter of 2005, a 62% increase over a year ago. ARC volume exceeded that of Internet-initiated consumer Automated Clearing House - ACH debits (WEB), by more than 40% for this same time period.
The Automated Clearing House (ACH) Network grew by 17.4 percent in the 3rd Quarter 2005 compared to a year ago, according to NACHA statistics. More than 2.71 billion transactions were conducted during the quarter, worth more than $6.1 trillion. These figures represent growth rates of 17.4% and 13.7%, respectively, over the same quarter of 2004. There were 1.53 billion debits and 1.18 billion credits in the 3rd Quarter, for a total of 2.713 billion. The statistics include commercial inter-bank and government transactions, but not “On-Us” transactions.
The five ACH e-check applications combined for 801 million payments in the 3nd quarter. In order of volume they are:
- ARC – ACH Volume 432.0 million
- WEB – ACH Volume 1261.6 million
- TEL (consumer telephone initiated debits) – ACH Volume 61.8 million
- POP (point-of-purchase check conversion) – ACH Volume 41.7 million
- RCK (re-presented check) – ACH Volume 5.7 million.
Figures cited do not include estimates of "on-us" ACH payments, in which the originating and receiving financial institutions are the same institution.
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