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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.
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On-Us Entry
Occurs when both the receiver and originator of a transaction have depository accounts at the same depository financial institution.
Related Terms
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Receiver
Any company, organization or entity authorizing an originator to initiate an ACH credit or ACH debit transaction.
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