Payments Glossary
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Receiving Depository Financial Institution (RDFI)
A financial institution that receives ACH payment instructions from the Originating Depository Financial Institution (ODFI) and processes them on behalf of its account holders for payroll, bill payments, and government disbursements. RDFIs play a critical role in ensuring that funds are accurately and promptly deposited into the recipients' accounts, maintaining the integrity and timeliness of ACH transactions.