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

  • COR (Notification of Change)

    A COR entry is initiated by a receiving depository financial institution (RDFI) to inform an originator of incorrect information submitted in an entry. The originator must correct...

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  • NPR (Notice of Proposed Rulemaking)

    A Notice of Proposed Rulemaking is a notice that is publicly issued when any independent agency decides to change, remove or add a rule.

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