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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  • Surcharge

    A surcharge is an extra fee that’s added to the regular total amount.

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