The Bancorp Bank Joins NACHA as Direct Financial Institution Member
The Bancorp Bank (Bancorp), a wholly owned subsidiary of The Bancorp, has joined NACHA as a direct financial institution member. Bancorp is an FDIC-insured online commercial bank that delivers financial services and products both directly and nationally through a network of private-label, affinity programmes. These are designed to enable members, employees, and customers of the bank and its affinity clients to access tailored online-banking services. According to the most recent NACHA Top 50 list, Bancorp is the nation’s 44th largest originating financial institution of automated clearing house (ACH) payments.
Direct membership of NACHA affords financial institutions of all sizes opportunities to vote on NACHA operating rules; serve in leadership roles on task forces, work groups, and committees; and nominate individuals for the NACHA board of directors.
NACHA now has 42 direct members, consisting of 24 financial institutions and 18 regional payment associations. In addition to Bancorp, direct member financial institutions include American Express Centurion Bank, Bank of America, BB&T, BMO Capital Markets, BNY Mellon, Capital One, Citibank NA, Discover Financial Services, Fifth Third Bank, Huntington National Bank, JP Morgan, KeyBank, Navy Federal Credit Union, PNC Bank, RBS, Citizens Bank, Regions Bank, SunTrust, Synovus Financial Corporation, TCF National Bank, TD Bank, US Bank, Wells Fargo, and Zions Bancorporation.