Receiving Depository Financial Institution definition

Receiving Depository Financial Institution or "RDFI" means the institution that receives ACH entries from the ACH Operator and posts them to the accounts of its depositors.
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Receiving Depository Financial Institution or “RDFI” has the meaning set forth in the Nacha Rules.
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Receiving Depository Financial Institution means the financial institution that receives Entries from an Automated Clearing House and posts the Entries to the accounts of its depositors.
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Examples of Receiving Depository Financial Institution in a sentence

  • You understand and agree that when CUTX is acting as the Receiving Depository Financial Institution (“RDFI”), the receiving ACH credit entry will be transferred into your CUTX Account not later than the next business day following the date the ACH credit entry posts to your CUTX Account (settlement date).


More Definitions of Receiving Depository Financial Institution

Receiving Depository Financial Institution or “RDFI” shall have the meaning as set forth in the Rules.
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Receiving Depository Financial Institution or “RDFI” means a Participating DPI with respect to Entries (i) it receives from its ACH Operator to the accounts of Receivers, and (ii) on which it is designated as the RDFI in accordance with the Rules.
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Receiving Depository Financial Institution means the institution that receives ACH entries from the ACH Operator and posts them to the accounts of its depositors.
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Receiving Depository Financial Institution. (“RDFI”) shall mean any financial institution qualified to receive ACH entries that agrees to abide by the NACHA Operating Rules and Guidelines.
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Receiving Depository Financial Institution or “RDFI” means the financial institution that holds the account of the Receiver identified in an ACH Entry and typically posts the ACH Entries to the Receiver’s account at the RDFI based on the information contained in the ACH file.
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Related to Receiving Depository Financial Institution

  • UK Financial Institution means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended from time to time) promulgated by the United Kingdom Prudential Regulation Authority) or any person falling within IFPRU 11.6 of the FCA Handbook (as amended from time to time) promulgated by the United Kingdom Financial Conduct Authority, which includes certain credit institutions and investment firms, and certain affiliates of such credit institutions or investment firms.

  • your financial institution means the financial institution nominated by you on the DDR at which the account is maintained.

  • EEA Financial Institution means (a) any credit institution or investment firm established in any EEA Member Country which is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of an institution described in clause (a) of this definition, or (c) any financial institution established in an EEA Member Country which is a subsidiary of an institution described in clauses (a) or (b) of this definition and is subject to consolidated supervision with its parent.

  • Custodial Institution means any Entity that holds, as a substantial portion of its business, financial assets for the account of others. An entity holds financial assets for the account of others as a substantial portion of its business if the entity’s gross income attributable to the holding of financial assets and related financial services equals or exceeds 20 percent of the entity’s gross income during the shorter of: (i) the three-year period that ends on December 31 (or the final day of a non-calendar year accounting period) prior to the year in which the determination is being made; or (ii) the period during which the entity has been in existence.

  • Reporting Financial Institution means any Member State Financial Institution or San Marino Financial Institution, as the context requires, that is not a Non-Reporting Financial Institution.

  • Depository Institution Any depository institution or trust company, including the Trustee, that (a) is incorporated under the laws of the United States of America or any State thereof, (b) is subject to supervision and examination by federal or state banking authorities and (c) has outstanding unsecured commercial paper or other short-term unsecured debt obligations that are rated P-1 by Moody's, F1+ by Fitch and A-1 by Standard & Poor's.

  • Financial institution means a Custodial Institution, a Depository Institution, an Investment Entity, or a Specified Insurance Company.

  • International Financial Institution means any bank in the top 1,000 (together with their affiliated companies) as measured by "Tier 1" capital or any broker/dealer in the top 100 as measured by capital.

  • Licensed financial institution means a financial institution issued a license under this act.

  • banking institution means a bank, bank and trust company, trust company, savings bank, private bank, or a national banking association, organized and doing business under the provisions of any law of this state, or of any other state of the United States, or under the provisions of any law of the United States of America.

  • Eligible Institution Any of the following: