A financial institution that participates in the Automated Clearing House Network (ACH) with specific authorization to initiate and accept ACH credit or debit entries. Credit transactions may be authorized verbally by ACH, but debit transactions require prior written authentication. DFI participation in the ACH network is critical to the efficiency of the interbank clearing of electronic entries.
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Definition of participating depository financial institution: A financial institution that participates in the Automated Clearing House Network (ACH) with specific ...
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Back to top. -P-. PARTICIPATING DEPOSITORY FINANCIAL INSTITUTION – Any DFI that is authorized by the ACH operator to originate or receive ACH entries.
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Sep 16, 2011 ... Updating Definition of Participating Depository Financial Institution. Q. What is the purpose of this change? A. On December 20, 2010, the ...
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Sep 17, 2010 ... In accordance with the NACHA Operating Rules, each Participating Depository Financial Institution that transmits or receives ACH entries (both ...
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Any day on which a participating depository financial institution is open to the public during any part of the day for carrying on substantially all its banking ...