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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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Merchant
A merchant is business that exchanges goods for monetary funds.
Related Terms
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RDFI (Receiving Depository Financial Institutions)
A financial institution qualified by the National Automated Clearing House Association (NACHA) to receive ACH transactions.
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