Receiving Depository Financial Institution Law and Legal Definition
Receiving depository financial institution (RDFI) is a financial institution qualified to receive ACH (Automated Clearing House) entries. These institutions should abide by the NACHA (National Automated Clearing House Association) Rules. The RDFI interlinks the Receiver's account with the Cards Association network. Both debit and credit transactions can be posted in RDFI according to the receiver's perspective.
Legal Definition list
- Receiving Association [Banks & Banking]
- Receiving Agent [Patents]
- Receivership in Foreclosure
- Receivership Court
- Receivership
- Receiving Depository Financial Institution
- Receiving Depository Institution
- Receiving Market Commission Merchant [Agricultural Marketing Service]
- Receiving Office [Patents]
- Receiving Report
- Receiving Station
