As a fintech startup that wants to offer payment features, you need to work with a bank that is an Originating Depository Financial Institution (ODFI). Here’s how to go about finding an ODFI to work with. … Read More
Becoming Nacha Certified as an ODFI, RDFI
If your business wants to be part of this exchange, and you want to offer ACH transfer services as a payment method, then you must be Nacha certified as an ODFI and RDFI or hire the right third party partner.
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Differences Between ODFI and RDFI
ODFIs and RDFIs are two types of financial institutions that operate within the Automated Clearing House (ACH) Network. Most major operating banks are ODFI and RDFI approved, allowing them to send and receive ACH money transfers. Third-party payment processors (TPPPs), … Read More