News
NACHA names top-50 ACH FIs
April 15, 2007
CHICAGO - NACHA-The Electronic Payments Association has released the NACHA top 50 largest originating and receiving financial institutions of automated clearing house payments for 2006.
FIs in the NACHA's top 50 of originating institutions accounted for 95.7 percent of all inter-bank ACH payments in 2006, up from 93.7 percent in 2005. The top five institutions accounted for 59.1 percent of all ACH origination activity, and the top 10 accounted for 76 percent.
On the receiving side, FIs in the top 50 accounted for 59.2 percent of all ACH payments, up from 52.8 percent in 2005. The top 5 institutions accounted for 28.5 percent, and the top 10 accounted for 38.1 percent.
NACHA includes all ACH-formatted transactions that FIs sent to or received from an ACH operator, or those that came directly to or from another FI. "On-us" payments are excluded. Payments include payroll direct deposit, Social Security benefits and tax refunds, consumer-bill direct payment, bill payments by Internet and telephone, check conversion, business-to-business payments, and Federal tax withholdings.
In 2006, nearly 16 billion ACH payments worth more than $33 trillion were conducted.
The top 10 originators, receivers
Top originators:
No. 1, JPMorgan Chase & Co; 2,257,694,838 in debits; 883,628,658 in credits
No. 2, Bank of America Corp.; 544,405,676 in debits; 621,652,533 in credits
No. 3, Wells Fargo & Company; 549,167,254 in debits; 386,411,815 in credits
No. 4, Citigroup Inc.; 645,416,396 in credits; 105,249,544 in debits
No. 5, Wachovia Corp.; 437,938,839 in credits; 258,276,494 in debits
No. 6, SunTrust Banks Inc.; 526,668,856 in credits; 167,603,516 in debits
No. 7, Mellon Financial Corp.; 189,808,278 in credits; 183,600,975 in debits
No. 8, U.S. Bancorp; 141,084,880 in credits; 203,503,244 in debits
No. 9, Capital One Financial Corp.; 252,302,388 in credits; 9,778,367 in debits
No. 10, HSBC Holding USA; 166,526,867 in credits; 71,883,908 in debits
Top receivers:
No. 1, B of A; 686,940,533 in credits; 536,861,447 in debits
No. 2, Wells Fargo; 317,043,041 in credits; 267,063,580 in debits
No. 3, Wachovia; 352,826,309 in credits; 220,543,887 in debits
No. 4, JPMorgan Chase; 225,931,155 in credits; 225,115,588 in debits
No. 5, Washington Mutual Inc.; 255,791,704 in credits; 141,671,794 in debits
No. 6, U.S. Bancorp; 178,148,166 in credits; 112,828,546 in debits
No. 7, Regions Financial Corp.; 134,887,347 in debits; 89,798,030 in credits
No. 8, SunTrust Banks; 134,315,206 in credits; 77,343,094 in debits
No. 9, Citizens Financial Group; 119,746,841 in credits; 78,326,286 in debits
No. 10, Citigroup; 105,320,143 in credits; 74,355,451 in debits
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