News

NACHA releases top 50 FIs for ACH originating, receiving

May 11, 2006

SAN DIEGO - NACHA-The Electronic Payments Association announced at its Payments 2006 conference the top 50 largest originating and receiving financial institutions of automated clearing house payments for 2005. NACHA includes all ACH-formatted transactions that FIs sent to or received from an ACH operator - an electronic clearing house among banks - or directly to or from another FI. ACH-formatted transactions remaining within a single institution, known as "on-us" payments, are excluded from the top 50.

Payments include direct deposit, direct payment of consumer bills, e-checks, business-to-business payments and federal tax withholdings. (Read also, NACHA reports 14 billion ACH payments in 2005.)

FIs in NACHA's top 50 originating institutions accounted for 93 percent of all interbank ACH payments in 2005, up from 91.6 percent in 2004. The top 5 institutions accounted for 58.1 percent of all ACH-origination activity, and the top 10 accounted for 73.2 percent.

On the receiving side, FIs in the top 50 accounted for 52.8 percent of all interbank ACH payments in 2005. The top 5 accounted for 25.8 percent, and the top 10 accounted for 34.2 percent.

NACHA's top 10 originators include:

• JPMorgan Chase & Company, up 17.7 percent
• Bank of America Corp., up 19.8 percent
• Wells Fargo & Company, up 21.6 percent
• Citigroup Inc., up 50.9 percent
• SunTrust Banks Inc., up 59.5 percent
• Wachovia Corp., no change
• Mellon Financial Corp., up 34 percent
• U.S. Bancorp, up 17.7 percent
• Capital One Financial Corp., down 3 percent
• Keycorp, Cleveland, up 20.7 percent

NACHA's top 10 receivers include:

• Bank of America Corp., up 18.4 percent
• Wells Fargo & Company, up 14.3 percent
• JPMorgan Chase & Company, up 22 percent
• Wachovia Corp., up 18. 3 percent
• Washington Mutual Inc., up 19.7 percent
• U.S. Bancorp, up 20 percent
• SunTrust Banks Inc., up 37.6 percent
• Citizens Financial Group, up 23.8 percent
• National City Corp., up 30.7 percent
• Citigroup Inc., up 3.1 percent