Receiving Depository Financial Institution. The RDFI is the bank that receives an ACH transaction submitted from FirstBank to the Federal Reserve. In the routing process, the transaction first goes to the ODFI. After the ODFI submits the transaction to the Federal Reserve, the Federal Reserve will transmit the payment order to the RDFI.
Receiving Depository Financial Institution. For the purposes of the Green Book, the RDFI is the financial institution that receives the payment.
Receiving Depository Financial Institution. The FI that receives the ACH debits or credits on behalf of an individual or business client.
Receiving Depository Financial Institution. A term used when referring to the clearing of ACH, or Electronic Check, transactions to describe the customer's bank. The RDFI receives a request from the ACH Network to provide funds for the customer's Electronic Check transaction.
Receiving Depository Financial Institution. Any depository financial institution qualified to receive ACH entries that agrees to abide by the provisions of the NACHA Operating Rules and Guidelines.
Receiving Depository Financial Institution, the financial institution receiving an ACH file from an ACH operator.
Financial institution receiving the ECS transaction
