Same Day ACH Experiences Significant Growth in the Second Quarter of 2021

HERNDON, Va., Sept. 1, 2021 /PRNewswire/ -- With Same Day ACH about to mark its fifth anniversary, new figures from Nacha show astounding growth for this faster payment method.

In the second quarter of 2021, Same Day ACH payment volume was 148.7 million, an increase of 82% over the same time in 2020. Those payments transferred $250 billion, up 115% from a year earlier.

"These phenomenal increases come just ahead of Same Day ACH turning five later this month. The figures speak to how the payments community has so widely accepted Same Day ACH in a relatively short time," said Jane Larimer, Nacha President and CEO.

Same Day ACH for credits went live on Sept. 23, 2016. Since then, Nacha, the ACH Operators and financial institutions have made enhancements every year, including adding debits, making funds available sooner, and raising the payment limit to $100,000. In March of this year, daily Same Day ACH hours were extended by two hours. Financial institutions are now able to submit Same Day ACH payments three times a day.

"With 1.2 billion payments transferring $1.5 trillion since it was launched, Same Day ACH is a faster payments success story," said Larimer. "The next enhancement to Same Day ACH will occur in March 2022, when the payment limit increases to $1 million, greatly expanding the possibilities for using Same Day ACH."

About Nacha
Nacha governs the thriving ACH Network, the payment system that drives safe, smart, and fast Direct Deposits and Direct Payments with the capability to reach all U.S. bank and credit union accounts. Nearly 27 billion ACH Network payments were made in 2020, valued at close to $62 trillion. Through problem-solving and consensus-building among diverse payment industry stakeholders, Nacha advances innovation and interoperability in the payments system. Nacha develops rules and standards, provides industry solutions, and delivers education, accreditation, and advisory services.

Contact:
Heather McElrath  
Nacha 
703-561-3923 
[email protected]

SOURCE Nacha

Related Links

http://www.nacha.org

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