Who are the participants of the ACH Network?
Originator: An originator initiates an ACH transaction against the account of a receiver pursuant to an agreement. An orginator can be either a company or an individual. Originating Depository Financial Institution (ODFI): An ODFI has agreed to receive payment instructions from an orginator and forward those instructions on to the ACH Operator. Automated Clearing House (ACH) Operator: The ACH Operator is the central clearing facility for ACH Payments. The ACH Operator can be operated by a private organization of by a Federal Reserve Bank. Receiving Depository Financial Institution (RDFI): The RDFI receives payment instructions from the ACH Operator and posts these payments to the account s of the receiver. Receiver: A receiver has agreed to allow an originator to initiate an ACH transaction against their account. Third Party Service Provider: A Third Party Service Provider handles any aspect of the ACH process on behalf of an originator, ODFI or RDFI.
