Analysis
NAICS 522320 is the 2022 national industry for financial transactions processing, reserve, and clearinghouse activities, part of 52232 (Financial Transactions Processing, Reserve, and Clearinghouse Activities). Census lists 14 example activities under it in the official index.
County Business Patterns counts 4,711 US establishments in this code in 2023, employing 177,887 people at an average annual payroll of $132,587 per employee (95th percentile of national industries). 67% of the establishments have fewer than five employees, which marks it as a small-business industry.
Census lists 6 related activities that belong elsewhere, most often in 518210, 541214, 521110 and 522210. Businesses that do several things are classified by their primary activity, the one that generates the most value, so check those boundaries before settling on this code.
Its index entries, the activities Census uses to assign businesses to this code, include automated clearinghouses, bank or check (except central…, automated Teller Machine (ATM) or Automated Loan Machine…, bank clearinghouse associations and central reserve financial institutions (except central bank), among 14 in all.
For example, nonfinancial data and electronic transaction processing (except payroll processing services) are classified in 518210 (Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services) instead.
Between 2018 and 2023 the number of establishments grew 5% and employment rose 13%. The 2018 count used NAICS 2017, so part of a large move can come from codes being redefined rather than from businesses opening or closing.
Official definition
This industry comprises establishments primarily engaged in providing one or more of the following: (1) financial transaction processing (except central bank); (2) reserve and liquidity services (except central bank); and/or (3) check or other financial instrument clearinghouse services (except central bank).
Illustrative Examples:
Automated clearinghouses, bank or check (except central bank) Credit card processing services Check clearing services (except central bank) Electronic funds transfer services, including peer-to-peer payment services
Source: US Census Bureau, NAICS 2022 Manual.
Not this code if…
| The business mainly does | Use instead |
|---|---|
| Nonfinancial data and electronic transaction processing (except payroll processing services) | 518210 Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services |
| Providing payroll processing services | 541214 Payroll Services |
| Establishments of the central bank primarily engaged in check clearing and other financial transaction processing | 521110 Monetary Authorities-Central Bank |
| Credit card issuing and related financial transaction processing | 522210 Credit Card Issuing |
| Establishment primarily engaged in furnishing physical or electronic marketplaces for the purpose of facilitating the buying and selling of securities and commodities | 523210 Securities and Commodity Exchanges |
| Operating commodity or securities exchange clearinghouses | 523999 Miscellaneous Financial Investment Activities |
Index entries (14)
- Automated clearinghouses, bank or check (except central bank)
- Automated Teller Machine (ATM) or Automated Loan Machine (ALM) network operation
- Bank clearinghouse associations
- Central reserve financial institutions (except central bank)
- Check clearing services (except central banks)
- Check clearinghouse services (except central banks)
- Check validation services
- Clearinghouses, bank or check
- Credit card processing services
- Electronic financial payment services
- Electronic funds transfer services, including peer-to-peer payment services
- Financial transactions processing (except central bank)
- Processing financial transactions
- Reserve and liquidity services (except central bank)