IAT NACHA ODFI 
Payment Savvy
FEBRUARY 23, 2023
There are five parties involved in making the payment processing go through: Originator This is a person who submits an ACH transfer to the ODFI. Originating Depository Financial Institution (ODFI) The ODFI receives the request from the Originator and passes it to the ACH Operator. clearing, delivery, settlement).
Payment Savvy
NOVEMBER 10, 2022
Instead, they are under the jurisdiction of NACHA (The National Automated Clearing House Association), which establishes the rules and regulations that all the institutions that are part of the network follow. The codes are universal, and they are maintained and defined by NACHA, which has jurisdiction over the ACH network.
Expert insights. Personalized for you.
52 
Let's personalize your content