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Receiving Bank
(redirected from Receiving Depository Financial Institution)

    Also found in: Acronyms 0.01 sec.
Receiving Bank
A bank that collects an electronic transfer from another bank. It is also called a receiving depository financial institution.
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The Reserve Banks and private-sector ACH operators (PSOs) rely on each other to process some transactions in which either the originating depository financial institution or receiving depository financial institution is not their customer.
NEGOTIATION OF ACH TRANSACTION FEES WITH PRIVATE-SECTOR OPERATORS by Federal Reserve Bulletin
A payment from another country transmitted into the network is treated no differently by a receiving depository financial institution than an entry originated domestically.
Getting online to pay by Lang, Scott M. / Financial Executive
Over 200 financial institutions across the United States have already purchased the ACH Operations Receiving Depository Financial Institution (RDFI) software, the ACH Operations Originating Depository Financial Institution (ODFI) software, the ACH Risk Management software, or a combination of those modules.
EastPay's Policies and Procedures Software Moves to Online Delivery by Business Wire
 
 
 
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