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

  • NPR (Notice of Proposed Rulemaking)

    A Notice of Proposed Rulemaking is a notice that is publicly issued when any independent agency decides to change, remove or add a rule.

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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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