ODFI, RDFI and Transaction Limits

ACH Payment vs Wire Transfer: What’s the Difference and Which Payment Method Should You Use?

Stax

JUNE 27, 2024

Global ACH is available but only for bank-to-bank networks Wire transfers have no geographic limitations. 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.

Wire Transfer

Wire Transfer Wire Wires ACH

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

Payments Space

ACH Payment vs Wire Transfer: What’s the Difference and Which Payment Method Should You Use?

ACH Transfers: How long do they take?

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