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

  • OFAC (Office of Foreign Asset Control)

    The part of the US Treasury Department responsible for enforcing United States economic and trade sanctions.

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  • RCK (Re-presented Check)

    An additional presentment of an eligible returned paper check through the ACH network.

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