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

  • Authorizations (Card Processing)

    All transactions must be authorized via terminal, cash register, voice authorization, or automated voice response phone system (IVR).

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  • On-Us Entry

    Occurs when both the receiver and originator of a transaction have depository accounts at the same depository financial institution.

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