ODFI (Originating Depository Financial Institution)

Financial institutions that originate ACH transactions on behalf of its customers. ODFI’s must abide by the National Automated Clearing House Association (NACHA) Operating Rules.

Related Terms

  • CBR (Cross Border Payments)

    A standard entry class code used for the transmission of corporate cross border ACH credit and ACH debit entries. The CBR format accommodates the exchange of information...

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  • FISMA (Federal Information Security Management Act)

    The Federal Information Security Management Act requires all federal agencies to implement cybersecurity programs to protect the information from unauthorized access.

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