The Clearing House Claims Half of US Commercial ACH Volume

The Clearing House says transactions on its electronic payments network (EPN) system continue to grow in value and volume.

That system, The Clearing House’s (TCH) automated clearinghouse (ACH) network, saw its transaction volume increase by 6.2% last year, the company said Monday (March 31). The system in 2024 processed 20.7 billion transactions worth $56.4 trillion, accounting for roughly half of the U.S. ACH commercial volume last year.

“The EPN network’s growth since 2021 outpaced ACH industry growth, with The Clearing House’s network averaging 7.4% per year, as businesses and consumers continued to embrace electronic payments,” TCH said in a news release.

The company said that the trend of increasing volumes has continued into this year, with the EPN system processing a record number of transactions on Feb. 14, with a single-day transaction volume of more than 152.4 million.

“The Clearing House’s EPN network continues its outstanding growth rate,” said Jason Carone, senior vice president of EPN product management, The Clearing House.

“Consumers and businesses appreciate the convenience and security provided with electronic payments. We see growth in all our payment networks, particularly with instant payments and same day ACH payments.”

The release added that ACH volume has grown for all user types and use cases, with business-to-business payments up nearly 11.6% year over year.

Direct deposit volume and person-to-person (P2P) transfers and account-to-account (A2A) transfers and bill payments, are all also increasing as consumers move to faster-payment options and away from paper checks.

The Clearing House’s RTP® network last month processed a $10 million real-time transaction, the largest instant payment in U.S. history.

“With the transaction cap now at $10 million — up from $1 million — corporations can transfer high-value funds instantly. This unlocks new possibilities for treasury management, supply chain financing and interbank settlements,” PYMNTS wrote recently.

TCH’s findings come amid a dramatic shift in consumer sentiment towards instant digital disbursements, as recent PYMNTS research shows.

“Digital Transformation and Instant Payments Fuel Business Disbursement Efficiency,” a collaboration between PYMNTS Intelligence and Ingo Payments, found that 41% of U.S. consumers reported receiving instant disbursements most often in January of this year, up 30% since 2018.

“This surge in demand has implications for financial institutions, businesses, and payment providers,” PYMNTS wrote last week.

“As consumers view immediate access to their funds as a necessity rather than a luxury, the ability to provide seamless and secure digital disbursement options is becoming a critical competitive differentiator. Companies that fail to adapt risk falling behind in an economy that is rapidly moving toward real-time financial interactions.”