RDFI (Receiving Depository Financial Institutions)

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

Related Terms

  • TEL (Telephone Initiated Entries)

    A standard entry class code that enables the originator to initiate a single entry debit to a consumer’s account pursuant to a consumer’s oral authorization obtained over...

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  • VAR Sheet

    A VAR Sheet is a file containing information, such as merchant account information, bank account information, processor information, etc. This file is typically given to a payment...

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