NACHA Issues 2005 "NACHA Top 50" Lists

"Inter-bank ACH payments grew by 18.9 percent in 2005, which combined with last year's performance has resulted in a stunning 47 percent growth in just two years," said Elliott C. McEntee, President and Chief Executive Officer of NACHA. "Much of the growth in 2005 is once again attributable to the Accounts Receivable (ARC) and Internet (WEB) bill payment applications. Financial institutions use these applications to provide their business customers with the collection of consumer remittances, and to service their own portfolios of consumer credit card, mortgage and loan payments."

The financial institutions in the NACHA Top 50 of originating institutions accounted for 93.1 percent of all inter-bank 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; the Top 10 accounted for 73.2 percent. Both of these figures are increases of about 2 percentage points over 2004.

On the receiving side, the financial institutions in the NACHA Top 50 accounted for 52.8 percent of all inter-bank ACH payments in 2005. The Top 5 institutions accounted for 25.8 percent, and the Top 10 accounted for 34.2 percent.

The complete NACHA Top 50 lists are available on NACHA's web site at www.nacha.org.

In the Top 50 data, NACHA includes all ACH-formatted transactions that financial institutions sent to or received from an ACH Operator - an electronic clearing house among banks - or directly to or from another financial institution. ACH-formatted transactions remaining within a single institution - known as "on-us" payments - are excluded from the Top 50 results.

ACH payments include Direct Deposit of payroll and benefits, Direct Payment of consumer bills, e-checks, business-to-business payments and Federal tax withholdings. In 2005 there were nearly 14 billion ACH payments worth $31 trillion.

NACHA Top 10 Originators
1    JPMorgan Chase & Co.
2    Bank of America Corporation
3    Wells Fargo & Company
4    Citigroup, Inc.
5    SunTrust Banks, Inc. 
6    Wachovia Corporation  
7    Mellon Financial Corporation
8    U.S. Bancorp
9    Capital One Financial Corporation
10   Keycorp, Cleveland

NACHA Top 10 Receivers
1    Bank of America Corporation
2    Wells Fargo & Company
3    JPMorgan Chase & Co.
4    Wachovia Corporation
5    Washington Mutual, Inc.
6    U.S. Bancorp
7    SunTrust Banks, Inc.
8    Citizens Financial Group
9    National City Corporation
10   Citigroup, Inc.