Payment Glossary

RDFI (Receiving Depository Financial Institutions)

A financial institution qualified by the National Automated Clearing House Association (NACHA) to receive ACH transactions.

Related Terms

  • ARC (Accounts Receivable Entry)

    An ARC entry is a one time debit entry to the account of a receiver whom has previously been notified that their check (source document) will be...

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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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