NEWS
The Countdown in ON . The Paper is OFF . March 1 , 2013 marks Treasury ’ s switch to all-electronic federal benefit payments .
Valuable Resources & Planning Tools
March 1 , 2013 . A critical date for the payments industry .
The U . S . Department of the Treasury is phasing out paper checks and requiring federal benefit recipients to get their money electronically by March 1 , 2013 . Your customers / members have two choices . They can choose to get their federal payment by Direct Deposit via ACH to a bank or credit union account or they can opt for a Direct Express ® Debit MasterCard ® card account .
How can you help your customers / members prepare now for this March 1 , 2013 deadline ? By visiting GoDirect . org . This website has all the tools and resources you need to help your customers / members make the switch safely , quickly , and easily .
Make sure ALL your customers / members who receive social security and other federal benefit payments are aware of the March 1 , 2013 deadline .
Need more information ? Call the GoDirect Helpline at 800-333-1795 , Monday through Friday , 8 a . m . – 8 p . m . eastern time . Follow Treasury on Twitter at http :// twitter . com /#!/ USGoDirect
Free resources and planning tools for you , your staff , customers and members can be found at www . godirect . org
GoDirect FAQs : http :// www . godirect . org / about-faq /
GoDirect Free Promotional Countdown Information for Financial Institutions : http :// www . godirect . org / partners / financial-institutions /
GoDirect state-by-state analysis of monthly social security and supplemental social security income payments : http :// www . godirect . org / media / payment-statistics /
Direct Deposit via ACH : www . electronicpayments . org
ACH Volume Increases 2.4 Percent in 3rd Quarter 2012
TAutomated Clearing House Network grew by 2.4 percent in the 3rd Quarter 2012 compared to a year ago , according to NACHA statistics . Approximately 4.11 billion transactions moving approximately $ 9.1 trillion were conducted during the quarter . These figures represent changes of 2.4 percent and 7.9 percent , respectively , compared to the same quarter of 2011 . There were 2.42 billion debits and 1.69 billion credits , for a total of 4.11 billion . The statistics include commercial inter-bank and government transactions , but not “ on-us ” transactions .
3rd Quarter 2012 ACH Network Transactions ( does not include on-us volumes ) 3rd Q 2012 2nd Q 2012 % change 3rd Q 2011 % change
ARC |
455,264,125 |
467,558,353 |
-2.63% |
495,236,948 |
-8.07% |
BOC |
46,508,589 |
48,630,940 |
-4.36% |
51,062,120 |
-8.92% |
CCD Debits |
183,072,135 |
183,992,499 |
-0.50% |
175,257,078 |
4.46 % |
CCD Credits |
389,703,907 |
390,176,833 |
-0.12% |
380,459,753 |
2.43 % |
CIE |
41,422,632 |
41,433,173 |
-0.03% |
39,494,678 |
4.88 % |
CTX |
21,986,262 |
21,567,562 |
1.94 % |
19,421,873 |
13.20 % |
IAT |
10,777,312 |
10,830,572 |
-0.49% |
9,532,664 |
13.06 % |
POP |
111,033,375 |
117,349,000 |
-5.38% |
120,804,656 |
-8.09% |
PPD Debits |
765,479,795 |
767,281,866 |
-0.23% |
745,118,834 |
2.73 % |
PPD Credits |
1,232,807,977 |
1,270,656,562 |
-2.98% |
1,188,609,331 |
3.72 % |
RCK |
1,435,167 |
1,413,038 |
1.57 % |
1,861,331 |
-22.90% |
TEL |
86,277,269 |
84,005,473 |
2.70 % |
91,665,867 |
-5.88% |
WEB |
732,488,552 |
718,403,310 |
1.96 % |
672,218,033 |
8.97 % |
Other |
32,132,290 |
29,776,146 |
7.91 % |
24,044,989 |
33.63 % |
Total Network |
4,110,389,387 |
4,153,075,327 |
-1.03% |
4,014,788,155 |
2.38 % |
© 2012 NACHA - The Electronic Payments Association |
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