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

Stax

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).

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What Does Return Mobile ACH Payment Mean?

Payment Savvy

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. Receiver The receiver is the individual or company that allows the Originator to initiate an ACH entry.

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