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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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WEB (Internet Initiated Entries)
A standard entry class code that enables an originator to debit a consumer’s account pursuant to an authorization obtained from the receiver via the internet.
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PPD (Prearranged Payment and Deposit)
A credit or debit entry to the account of a receiver where there is either a standing or one time written authorization that has been signed or...
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