RDFI (Receiving Depository Financial Institutions)

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

Related Terms

  • ACK (ACH Payment Acknowledgement)

    An ACK entry is an acknowledgement by the receiving depository financial institution (RDFI) confirming the receipt of a corporate credit or debit (CCD) credit entry.

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  • EFT (Electronic Funds Transfer)

    The electronic exchange or transfer of money from one account to another, either within a single financial institution or across multiple institutions, through computer-based systems.

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