Payment Glossary

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

  • Issuer

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

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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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