Participating DFI definition

Participating DFI means a financial institution that (i) is authorized by Applicable Law to accept deposits, (ii) has been assigned a routing number, and (iii) has agreed to be bound by the Rules.
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Examples of Participating DFI in a sentence

  • The following capitalized party names and terms, which have not already been defined above, are used in this Schedule and are defined below as follows: Parties:  Originating Depository Financial Institution (“ODFI”): A Participating DFI with respect to Entries (i) it transmits directly or indirectly to an ACH Operator for transmittal to an RDFI, and (ii) on which it is designated as the ODFI in accordance with ACH Record Format Specifications.

  • Each Participating DFI, Third-Party Service Provider, and Third-party Sender is required under the amendment to verity, as part of its annual ACH Rules Compliance Audit, that it has established, implemented, and updated the data security policies, procedures, and systems required by the ACH Security Framework Rule.

  • The following capitalized party names and terms, which have not already been defined above, are used in this Service Agreement and are defined below as follows: Parties: • Originating Depository Financial Institution (“ODFI”): A Participating DFI with respect to Entries (i) it transmits directly or indirectly to an ACH Operator for transmittal to an RDFI, and (ii) on which it is designated as the ODFI in accordance with ACH Record Format Specifications.