RDFI (Receiving Depository Financial Institutions)

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

Related Terms

  • Automated Teller Machine (ATM)

    An automated teller machine (ATM) is a device that allows for the withdrawal of cash without the need of a human teller or cashier.

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  • ACH

    Automated Clearing House - ACH is a reliable electronic funds transfer (EFT) system governed by National Automated Clearing House Association (NACHA).

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