RDFI Related Topics 
Payment Savvy
FEBRUARY 23, 2023
Receiving Depository Financial Institution (RDFI) The RDFI is the bank that is being charged or refunded. If there is a problem with the payment processing, it is usually the RDFI that sends an ACH return message. It receives the ACH entry and submits it to the Receiver.
EBizCharge
OCTOBER 17, 2023
When this happens, the Receiving Depository Financial Institution (RDFI) automatically initiates a return of the funds to the Originating Depository Financial Institution (ODFI). Review and ACH return initiation: The RDFI will evaluate the transaction and identify the specific issue before initiating the return. What is an ACH return?
Stax
APRIL 23, 2024
Step 3: Complete the payment request The ODFI or ACH network will send a request from the business’ checking account to the individual’s account, also known as the RDFI, or Receiving Depository Financial institution. Step 4: Payment processing Once the RDFI approves the fund’s amount, the direct payment will be processed.
PYMNTS
SEPTEMBER 9, 2016
Of the 420-plus customers, Rojas said about 140 are currently using one of the company’s two ACH products, dubbed ACH-ODFI and ACH-RDFI. ODFI focuses on the origination of transactions, while RDFI concentrates on receiving transactions.
Nanonets
MARCH 21, 2023
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). Day 2, 12:00 PM: The ACH network delivers this latest round of files as ACH credit requests to every bank where your employees have an account (the RDFIs).
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.
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