RDFI (Receiving Depository Financial Institutions)

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

Related Terms

  • ACH

    Automated Clearing House - ACH is a reliable electronic funds transfer (EFT) system governed by National Automated Clearing House Association (NACHA).

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  • 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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