Payment Savvy

FEBRUARY 23, 2023

ACH Operator The ACH Operator links the two accounts by processing transactions (e.g., clearing, delivery, settlement). Receiving Depository Financial Institution (RDFI) The RDFI is the bank that is being charged or refunded. It receives the ACH entry and submits it to the Receiver.

ACH 52

ACH Returns RDFI ODFI 52

Stax

JUNE 27, 2024

ODFI submits ACH file – The originator’s bank or payment processor, also known as the originating depository financial institution (ODFI) submits the ACH entry containing the payment details. Your bank sends the ACH files with the payment details based on the ACH instructions to the utility company (merchant).

Wire Transfer 88

Wire Transfer Wire Wires ACH 88

Payment Savvy

NOVEMBER 10, 2022

When it comes to an ACH transaction, there are two main participants. There’s the ODFI, which stands for Originating Depository Financial Institution, and there’s the RDFI, which stands for Receiving Depository Financial Institution. The request is then sent to an ACH operator.

SEC Codes 52

SEC Codes ACH ODFI Wire Transfer 52