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Your bank (the ODFI) will collect all the transaction files you sent and forward them to an ACHoperator. The operator will send the files to the recipient’s bank, which is called the RDFI (Receiving Depository Financial Institution). You will know if the RDFI has pulled the funds when you receive your payment.
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. When it comes to an ACH transaction, there are two main participants. The request is then sent to an ACHoperator.
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