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Federal Reserve Payments Study (FRPS)

Depository and Financial Institutions Payments Survey (DFIPS)

Estimates for Calendar Years 2015, 2018, and 2021

Released March 2025

 

Contents

Accounts Transaction deposit accounts and sweep program accounts at depository institutions
Checks Checks paid, checks written, and checks deposited
ACH Transfers Automated Clearinghouse (ACH) credit and debit transfers
Wire Transfers Wires sent or received over large-value funds transfer and internal book-entry systems
Alternative Payments Consumer bill and person-to-person payments via a depository institution-sponsored website or app irrespective of settlement mechanism

Notes

  • Each sheet in this workbook contains triennial data from 2015 to 2021 and compound annual growth rates (CAGRs).
  • Balances, values, and averages are reported in U.S. dollars.
  • Cells left blank in the data tables indicate data is not reported.
  • Businesses are defined to include for-profit and not-for profit enterprises and federal, state, and local government agencies.

Acronyms

ACH Automated Clearinghouse
CAGR Compound annual growth rate
DFIPS Depository and Financial Institutions Payments Survey
DI Depository institution
P2P Person-to-person

For more information, see the Notes on the Detailed Data.

Table 1. Accounts, 2015-21

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Depository and Financial Institutions Payments Survey (DFIPS) 2015 2018 2021 CAGR (percent)
Number
(millions)		 Balance
($ trillions)		 Average
($)		 Number
(millions)		 Balance
($ trillions)		 Average
($)		 Number
(millions)		 Balance
($ trillions)		 Average
($)		 2015-18 2018-21
Number Balance Number Balance
Transaction deposit accounts 357.9 4.07 11,361 350.1 4.91 14,020 374.6 7.51 20,043 -0.7 6.5 2.3 15.2
Consumer 321.0 1.91 5,961 312.8 2.15 6,889 330.9 2.94 8,875 -0.9 4.0 1.9 10.9
Business 36.9 2.15 58,396 37.3 2.75 73,801 43.7 4.57 104,690 0.4 8.6 5.4 18.4
Retail sweep program accounts 146.2 2.15 14,689 215.6 2.96 13,747 199.2 4.25 21,354 13.8 11.3 -2.6 12.8
Consumer 137.4 1.54 11,205 195.2 1.42 7,283 184.5 2.16 11,718 12.4 -2.6 -1.9 15.0
Business 8.8 0.61 68,920 20.4 1.54 75,731 14.8 2.09 141,807 32.1 36.3 -10.2 10.7
Wholesale sweep program accounts 0.1 0.51 4,041,969 0.1 0.29 2,434,918 0.1 0.36 3,774,900 -2.3 -17.5 -7.1 7.6

 

Table 2. Checks, 2015-21

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Depository and Financial Institutions Payments Survey (DFIPS) 2015 2018 2021 CAGR (percent)
Number
(billions)		 Value
($ trillions)		 Average
($)		 Number
(billions)		 Value
($ trillions)		 Average
($)		 Number
(billions)		 Value
($ trillions)		 Average
($)		 2015-18 2018-21
Number Value Number Value
Checks paid by check and payer type 16.9 26.08 1,547 13.6 26.08 1,917 11.1 27.44 2,464 -6.9 <0.1 -6.5 1.7
U.S. treasury checks 0.1 0.14 2,413 0.1 0.15 2,784 0.1 0.27 2,084 -3.7 1.0 35.0 22.6
Postal money orders 0.1 0.02 226 0.1 0.02 254 0.1 0.02 286 -3.4 0.4 -5.4 -1.7
Commercial checks 16.7 25.92 1,551 13.5 25.91 1,924 10.9 27.14 2,482 -6.9 <0.1 -6.7 1.6
Consumer 9.1 7.45 816 7.0 6.86 983 5.2 6.50 1,249 -8.6 -2.7 -9.3 -1.8
Business 7.6 18.46 2,438 6.5 19.05 2,938 5.7 20.64 3,601 -5.0 1.0 -4.0 2.7
Checks paid by clearing method 16.9 26.08 1,547 13.6 26.08 1,917 11.1 27.44 2,464 -6.9 <0.1 -6.5 1.7
Interbank 12.7 18.25 1,443 9.9 18.62 1,888 8.4 19.88 2,375 -8.0 0.7 -5.3 2.2
On-us 4.2 7.83 1,862 3.7 7.46 1,993 2.8 7.56 2,731 -3.8 -1.6 -9.6 0.5
Commercial checks paid by clearing method 16.7 25.92 1,551 13.5 25.91 1,924 10.9 27.14 2,482 -6.9 <0.1 -6.7 1.6
Interbank 12.5 18.09 1,447 9.7 18.45 1,898 8.2 19.58 2,398 -8.0 0.7 -5.7 2.0
Inclearings 11.2 17.10 1,526 8.9 17.93 2,010 7.1 18.3 2,573 -7.3 1.6 -7.3 0.7
On-us correspondent 1.3 0.99 790 0.8 0.54 694 1.0 1.23 1,191 -14.6 -18.2 9.9 31.6
On-us 4.2 7.83 1,862 3.7 7.46 1,993 2.8 7.56 2,731 -3.8 -1.6 -9.6 0.5
Checks written 18.9 26.58 1,403 15.1 26.48 1,751 11.9 27.68 2,318 -7.2 -0.1 -7.6 1.5
Checks converted to ACH payments 2.1 0.50 238 1.5 0.40 263 0.8 0.24 299 -9.9 -6.8 -19.2 -15.8
Checks deposited 20.0 31.49 1,578 20.1 37.25 1,857 14.6 35.8 2,450 0.2 5.8 -10.0 -1.3
Consumer and business 14.7 25.76 1,757 ND ND ND 10.6 27.23 2,576 ND ND ND ND
Image 3.3 6.59 2,004 ND ND ND 5.5 13.12 2,364 ND ND ND ND
Other 11.4 19.17 1,686 ND ND ND 5.0 14.11 2,811 ND ND ND ND
Correspondent 5.3 5.71 1,082 ND ND ND 4.0 8.54 2,123 ND ND ND ND

 

Table 3. Automated Clearinghouse (ACH) Transfers, 2015-21

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Depository and Financial Institutions Payments Survey (DFIPS) 2015 2018 2021 CAGR (percent)
Number
(billions)		 Value
($ trillions)		 Average
($)		 Number
(billions)		 Value
($ trillions)		 Average
($)		 Number
(billions)		 Value
($ trillions)		 Average
($)		 2015-18 2018-21
Number Value Number Value
ACH Transfers (aligned with operator data)
Transfers by clearing method and type 23.4 51.24 2,189 26.9 60.69 2,252 34.2 86.59 2,535 4.8 5.8 8.2 12.6
Network 19.3 41.64 2,159 22.9 51.25 2,234 29.1 72.62 2,497 6.0 7.2 8.2 12.3
Credit 8.0 26.78 3,333 9.5 33.42 3,512 12.7 47.25 3,714 5.8 7.7 10.2 12.2
Debit 11.3 14.86 1,321 13.4 17.83 1,328 16.4 25.37 1,551 6.1 6.3 6.8 12.5
In-house on-us 4.1 9.60 2,332 4.0 9.44 2,358 5.1 13.96 2,753 -0.9 -0.6 8.2 13.9
Credit 1.9 5.46 2,906 1.7 5.24 3,024 2.2 7.86 3,538 -2.7 -1.4 8.7 14.5
Debit 2.2 4.14 1,850 2.3 4.20 1,850 2.9 6.11 2,142 0.5 0.5 7.9 13.3
Commercial ACH Transfers (DFIPS)
Transfers by type 21.9 126.17 5,750 24.9 139.74 5,610 32.0 179.38 5,611 4.3 3.5 8.7 8.7
Credit 8.9 71.37 7,992 10.0 78.66 7,891 13.7 100.95 7,384 3.7 3.3 11.1 8.7
Debit 13.0 54.80 4,212 14.9 61.07 4,088 18.3 78.42 4,286 4.7 3.7 7.0 8.7
Credit transfers by clearing method 8.9 71.37 7,992 10.0 78.66 7,891 13.7 100.95 7,384 3.7 3.3 11.1 8.7
Network 7.0 22.37 3,202 8.2 29.83 3,619 11.5 41.42 3,616 5.7 10.1 11.6 11.6
In-house on-us 1.9 49.00 25,202 1.7 48.83 28,292 2.2 59.53 26,862 -3.9 -0.1 8.7 6.8
Credit transfers by payer type 8.9 71.37 7,992 10.0 78.66 7,891 13.7 100.95 7,384 3.7 3.3 11.1 8.7
Consumer 0.6 0.89 1,442 0.8 1.53 1,893 2.0 3.03 1,527 9.4 19.7 34.7 25.4
Business 8.3 70.47 8,480 9.2 77.13 8,422 11.7 97.92 8,377 3.3 3.1 8.5 8.3
Credit transfers by settlement timing 8.9 71.37 7,992 10.0 78.66 7,891 13.7 100.95 7,384 3.7 3.3 11.1 8.7
Same-day ND ND ND 0.2 2.10 8,540 0.7 3.75 5,530 ND ND 40.3 21.3
Non-same-day ND ND ND 9.7 76.57 7,874 13.0 97.21 7,480 ND ND 10.2 8.3
Debit transfers by clearing method 13.0 54.80 4,212 14.9 61.07 4,088 18.3 78.42 4,286 4.7 3.7 7.0 8.7
Network 10.8 13.56 1,255 12.8 17.71 1,389 15.6 23.74 1,525 5.9 10.4 7.0 9.8
In-house on-us 2.2 41.24 18,700 2.2 43.37 19,821 2.7 54.68 20,062 -0.3 1.7 7.6 8.0
Debit transfers by payer type 13.0 54.80 4,212 14.9 61.07 4,088 18.3 78.42 4,286 4.7 3.7 7.0 8.7
Consumer 11.4 21.53 1,883 10.8 15.50 1,430 14.6 23.42 1,600 -1.8 -10.4 10.5 14.8
Business 1.6 33.26 21,099 4.1 45.58 11,116 3.7 55.00 15,027 37.5 11.1 -3.7 6.5
Debit transfers by settlement timing 13.0 54.80 4,212 14.9 61.07 4,088 18.3 78.42 4,286 4.7 3.7 7.0 8.7
Same-day ND ND ND 0.3 1.10 3,441 1.3 2.95 2,282 ND ND 59.4 39.0
Non-same-day ND ND ND 14.6 59.97 4,103 17.0 75.48 4,439 ND ND 5.2 8.0

 

Table 4. Wire Transfers, 2015-21

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Depository and Financial Institutions Payments Survey (DFIPS) 2015 2018 2021 CAGR (percent)
Number
(millions)		 Value
($ trillions)		 Average
($)		 Number
(millions)		 Value
($ trillions)		 Average
($)		 Number
(millions)		 Value
($ trillions)		 Average
($)		 2015-18 2018-21
Number Value Number Value
Wire transfers originated by payer type 271.7 1,288.89 4,743,425 277.4 1,057.97 3,813,535 387.7 1,441.09 3,717,255 0.7 -6.4 11.8 10.9
Consumer 17.5 1.67 95,483 31.0 4.92 158,973 41.9 4.27 101,889 20.9 43.3 10.6 -4.6
Business 254.2 1,287.22 5,063,823 246.5 1,053.04 4,272,643 345.8 1,436.83 4,155,205 -1.0 -6.5 11.9 10.9
Settlement/bank business 33.2 467.38 14,070,034 36.7 450.64 12,266,400 41.9 507.22 12,092,137 3.4 -1.2 4.5 4.0
Other 221.0 819.84 3,710,013 209.7 602.41 2,872,367 303.8 929.61 3,059,505 -1.7 -9.8 13.2 15.6
Wire transfers originated by payee location 271.7 1,288.89 4,743,425 277.4 1,057.97 3,813,535 387.7 1,441.09 3,717,255 0.7 -6.4 11.8 10.9
Domestic 172.0 730.69 4,248,449 181.9 738.80 4,061,848 240.7 980.95 4,076,152 1.9 0.4 9.8 9.9
Cross-border 99.7 558.20 5,597,026 95.5 319.16 3,340,776 147.0 460.14 3,129,782 -1.4 -17.0 15.5 13.0
Wire transfers originated by clearing method 271.7 1,288.89 4,743,425 277.4 1,057.97 3,813,535 387.7 1,441.09 3,717,255 0.7 -6.4 11.8 10.9
Interbank 174.3 659.96 3,785,276 181.1 566.40 3,127,906 258.8 780.76 3,017,425 1.3 -5.0 12.6 11.3
Book transfer 97.4 628.93 6,459,032 96.3 491.57 5,102,151 128.9 660.33 5,121,805 -0.4 -7.9 10.2 10.3
Wire transfers received 240.7 1,116.51 4,639,357 261.1 911.16 3,490,129 343.5 1,159.81 3,376,124 2.8 -6.6 9.6 8.4

 

Table 5. Alternative Payments via DI Website or App, 2015-21

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Depository and Financial Institutions Payments Survey (DFIPS) 2015 2018 2021 CAGR (percent)
Number
(billions)		 Value
($ trillions)		 Average
($)		 Number
(billions)		 Value
($ trillions)		 Average
($)		 Number
(billions)		 Value
($ trillions)		 Average
($)		 2015-18 2018-21
Number Value Number Value
Bill payment transactions 2.7 1.15 422 3.0 1.65 545 3.0 1.97 660 3.5 12.8 -0.5 6.1
Person-to-person (P2P) transfers by funds availability to the recipient 0.2 0.05 302 0.6 0.15 266 2.0 0.45 226 48.2 42.1 51.0 43.0
Immediate ND ND ND ND ND ND 1.5 0.31 215 ND ND ND ND
Other ND ND ND ND ND ND 0.5 0.14 254 ND ND ND ND
Last Update: March 12, 2025