Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

What is an ODFI?

April 26, 2017odfi

0

Posted

What is an ODFI?

1 Answer

0

Posted

ODFI stands for originating depository financial institution. The ODFI is a bank that initiates transaction instructions on behalf of its client to the ACH network. ODFI can initiate a credit or debit instruction but in the typical gateway scenario, the instructions are for a credit transaction.