ODFI (Originating Depository Financial Institution)

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.

Related Terms

  • EFTA (Electronic Fund Transfer Act)

    The Electronic Fund Transfer Act establishes the rights and liabilities of consumers in addition to the responsibilities of anyone who participates in electronic funds transfers.

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  • Issuer

    An issuer is the organization that issues a credit or debit card.

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