2nd Quarter 2004 ACH Statistics

Attached are two summaries of ACH statistics for the 2nd quarter 2004. In the quarter there were 2,230,789,362 ACH payments, which is a 4.20% increase over the previous quarter and a 20.72% increase over the 2nd quarter 2003. Of particular note, ARC transactions reached 208.8 million items for the quarter, a 46.7% increase over the previous quarter and 791% over the 2nd quarter 2003. ARC volume surpassed WEB volume in the quarter, making it the largest volume e-check application. ARC accounted for 73.9% of all ACH growth in the quarter. On the commercial-only side (excludes Federal government volume), quarterly ACH volume is up 23.6 percent over the 2nd quarter 2003. Debits accounted for over 56% of commercial ACH payments. The figures do not include estimates of on-us volume.