RDFI (Receiving Depository Financial Institutions)

A financial institution qualified by the National Automated Clearing House Association (NACHA) to receive ACH transactions.

Related Terms

  • ENR (Automated Enrollment Entry)

    ENR entries are initiated by an receiving depository financial institution (RDFI), at the request of a receiver, to enroll the receiver in direct deposit or direct payment...

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  • Existing Relationship

    There is an existing relationship between an originator and a receiver when there is either a written agreement in place or when the receiver has purchased goods...

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