More NewsACH Payments Increase 16.9 Percent

ACH Payments Increase 16.9 Percent

Automated clearing house (ACH) payments totaled more that 6.2 billion in 1999, a 16.9 percent increase over 1998, according to statistics released by NACHA – The Electronic Payments Association. The dollar amount of the transactions grew from $18.1 trillion in 1998 to $19.4 trillion in 1999, a 7.4 percent increase. ACH payments include business-to-business payments, Direct Deposit of payroll, Social Security benefits and tax refunds, Direct Payments of mortgages, car loans, insurance, utility and other bills, and federal tax payments.

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