Receiving Bank
Barron's Banking Dictionary:
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Receiving Bank
In the nationwide Automated Clearing House (ACH) system, a bank or other depository institution eligible to receive electronic credit and debit entries from another bank, the Originator of an ACH transaction, for posting to a customer's account. Also called receiving depository financial institution (RDFI).
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Barron's Banking Dictionary
Dictionary of Banking Terms. Copyright © 2006 by Barron's Educational Series, Inc. All rights reserved.
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