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.
Continue Reading for Free
Register and gain access to:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world cas studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 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.
Susan Kelly
Susan Kelly is a business journalist who has written for Treasury & Risk, FierceCFO, Global Finance, Financial Week, Bridge News and The Bond Buyer.
