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

  • Convenience Fees

    These fees allow for the quick offset of transaction processing costs for methods of payment that are outside of a business’s traditional methods. Learn More

    Learn More
  • Tokenization

    Tokenization replaces sensitive financial account information with a random string of characters, called a token. Learn More

    Learn More