Debit Transaction, ODFI and RDFI

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Debit Transaction

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ACH Transfers: How long do they take?

Nanonets

MARCH 21, 2023

Each transfer is sent as a message within a batch of outgoing requests by the bank making the request (known as the originating depository financial institution, or ODFI). The ACH network then combines each message into a batch that is sent to the bank receiving the request (the receiving depository financial institution, or RDFI).

ACH

ACH RDFI ACH Network ODFI

ACH SEC Codes

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. MTE – clearing of transactions via automated teller machines.

SEC Codes

SEC Codes ACH ODFI Wire Transfer

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ACH Transfers: How long do they take?

ACH SEC Codes

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