ACH Debit

An ACH debit occurs when the receiver’s account is debited.

Related Terms

  • Demand Deposit Account

    Traditional savings and checking accounts are generally demand deposit accounts.

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  • 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.

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