RDFI (Receiving Depository Financial Institutions)

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

Related Terms

  • Effective Rate

    The effective rate shows the amount of volume a business pays in credit card processing fees to process a given amount. It is shown as a percentage,...

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  • Originator

    A company, individual or entity that initiates entries into the ACH network.

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