Stax

JUNE 27, 2024

To initiate an ACH transfer, the originating bank account sends ACH instructions requesting the funds, which are transferred into the receiving account. The utility company (the ODFI) passes the ACH files to the financial institution, which then sends a file with the payment request to the customer’s bank (the RDFI).

Wire Transfer 88

Wire Transfer Wire Wires ACH 88

PYMNTS

SEPTEMBER 9, 2016

PYMNTS recently spoke with Luis Rojas, vice president of product management for Guardian Analytics , an online banking security firm, about the effect of a faster processing environment, the potential for increased fraud and how to mitigate that risk. It creates a better commerce environment between originators and beneficiaries,” he said.

Same Day ACH 40

Same Day ACH ACH ODFI Faster Payments 40

Payment Savvy

NOVEMBER 10, 2022

There’s the ODFI, which stands for Originating Depository Financial Institution, and there’s the RDFI, which stands for Receiving Depository Financial Institution. To put it simply, the ODFIs are the financial institutions that send the transaction, while RDFIs are the institutions that receive it.

SEC Codes 52

SEC Codes ACH ODFI Wire Transfer 52