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ACH Network Processes 5.3 Billion Transactions

In the third quarter of 2017

In Q3 2017, the ACH Network transferred 5.3 billion Direct Deposits and Direct Payments, increasing 5.5 percent over Q3 2016 volume on a per-processing day basis, and 3.8% on an absolute basis. Q3 2017 transactions totaled $11.5 trillion, growing 5 percent over Q3 2016.

Q3 2017 trends show that the ACH Network continues to become all-electronic, with check-initiated transactions seeing one of their steepest drops in recent years at 12.2 percent, and native electronic payments increasing 5.3 percent. Once again, WEB, Direct Deposit and business-to-business (B2B) payments continue to fuel the growth of native electronic payments. Additionally, Same Day ACH transactions are now supporting the growth of the ACH Network.

WEB Transactions 
In Q3 2017, overall WEB transactions grew more than 10 percent over Q3 2016 to 1.3 billion transactions. Both WEB credits and WEB debits saw significant gains, with WEB credits, person-to-person (P2P) payments, growing 22.5 percent over the same period last year to 24.8 million transactions, and WEB debits growing 9.5 percent.

Direct Deposits
Direct Deposits, or PPD credits, increased in Q3 2017 as well. These transactions grew almost 5 percent to 1.6 billion transactions.

B2B Transactions
The Network’s B2B transaction categories, CTX and CCD, saw gains in Q3 2017. CTX transactions grew 5.4 percent and CCD transactions grew 5.0 percent. Businesses continue to take advantage of the Network’s ability to send remittance information directly with a payment, as addenda use within the CTX transaction category grew 4.5 percent and 10.0 percent within CCD.

Same Day ACH
Q3 2017 saw expanded use of Same Day ACH, as same-day debits became available on Sept. 15. In Q3 2017, there were 14.7 million same-day credit transactions - an increase of 24 percent over Q2 2017 - totaling $20.2 billion. Nearly 50 percent of same-day credits were business-to-consumer (B2C) transactions, including Direct Deposits. Thirty-five percent were B2B payments. The remaining transactions were made up of P2P payments and consumer-to-business bill payments. During the 11 processing days in September in which same-day debits were available, there were almost 2 million same-day debits totaling $1.3 billion. Ninety-four percent of same-day debits were B2C transactions and 6 percent where B2B.

ACH Network Quality Indicators
In Q3 2017, the major quality/risk indicators increased compared to Q3 2016. The overall administrative return rate increased slightly from 0.18 percent to 0.19 percent. The overall unauthorized debit rate increased to 0.036 from 0.030 percent. And the overall debit NSF return rate saw an increase from 0.93 percent to 1.00 percent.

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