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

  • DSO (Day Sales Outstanding)

    The total accounts receivables divided by average daily sales.

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  • SSL (Secure Sockets Layer)

    SSL, proceeded by TLS, is a security protocol that encrypts data and enabled authentication between applications over a network.

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