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

  • 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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  • PBR (Consumer Cross-Border Payment)

    A PBR entry is a debit or a credit entry to or from the account of a consumer where the participants are in two different countries.

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