RDFI (Receiving Depository Financial Institutions)

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

Related Terms

  • ACH Debit

    An ACH debit occurs when the receiver’s account is debited.

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  • Remote Deposit

    Remote deposit (or remote deposit capture) is the process of converting paper or mailed-in checks to an electronic file for processing.

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