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ACH Debit
An ACH debit occurs when the receiver’s account is debited.
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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.
Related Terms
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CCD (Corporate Credit or Debit)
A CCD entry is a credit or debit entry where funds are being transferred between two corporate entities.
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