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ODFI (Originating Depository Financial Institution)
Financial institutions that originate ACH transactions on behalf of its customers. ODFI's must abide by the National Automated Clearing House Association (NACHA) Operating Rules.
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Surcharge
A surcharge is an extra fee that’s added to the regular total amount.
Related Terms
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Regulation E (Reg-E)
Regulation E details procedures for the processing of electronic funds transfers (EFTs) in addition to debit cards.
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