Originating Depository Financial Institution - Wikipedia

Home » What Does Rdfi Mean In Banking » Originating Depository Financial Institution - Wikipedia

Maybe your like

Jump to content

Contents

move to sidebar hide
  • (Top)
  • 1 See also
  • 2 References
  • Article
  • Talk
English
  • Read
  • Edit
  • View history
Tools Tools move to sidebar hide Actions
  • Read
  • Edit
  • View history
General
  • What links here
  • Related changes
  • Upload file
  • Page information
  • Cite this page
  • Get shortened URL
  • Download QR code
Print/export
  • Download as PDF
  • Printable version
In other projects
  • Wikidata item
Appearance move to sidebar hide From Wikipedia, the free encyclopedia

Originating Depository Financial Institution or ODFI is a banking term in the United States used in connection with ACH Network (ACH). In the ACH flow, the ODFI acts as the interface between the Federal Reserve or ACH network and the originator of the transaction. The ODFI warrants to the ACH network that the transactions it transmits to the network comply with the rules. The depository institution that is a member of ACH is usually a bank or other financial institution which is initiating a payment on behalf of its client.[1] This is different from check processing in which the paying bank on which the check is drawn warrants that the transaction is in compliance.

See also

[edit]
  • Receiving Depository Financial Institution

References

[edit]
  1. ^ "ACH Network: How it Works". nacha.org. NACHA. Retrieved 25 January 2015.
Stub icon

This United States bank–related article is a stub. You can help Wikipedia by adding missing information.

  • v
  • t
  • e
Retrieved from "https://en.wikipedia.org/w/index.php?title=Originating_Depository_Financial_Institution&oldid=1172815673" Categories:
  • Banking terms
  • United States bank stubs
Hidden category:
  • All stub articles
Search Search Toggle the table of contents Originating Depository Financial Institution Add languages Add topic

Tag » What Does Rdfi Mean In Banking