When same-day ACH credits were launched last fall, observers predicted they would be most popular with corporates that were late sending a payroll file.
Data on the first six months' worth of same-day ACH seem to confirm those predictions, showing more than half of transactions were direct deposits. In three months ending in March (the most recent data available), there were more than 13 million same-day ACH transactions, with a total value of nearly $18 billion; 7.2 million of those transactions, or 54%, were direct deposits, while just 32% were business-to-business payments.
Nancy Atkinson, founder and principal of Pittsburgh-based GTB Consulting, said that she has been surprised by the level of use of same-day ACH.
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
- Exclusive discounts on ALM and Treasury & Risk events.
- Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.
*May exclude premium content
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
