Definitions for "Originating depository financial institution"
Keywords:  ach, odfi, firstbank, nacha, abide
The financial institution, which delivers ACH entries directly or indirectly through a third party to its ACH operator.
The ODFI is the originating bank (FirstBank) for your ACH transactions. All ACH batches submitted are routed through your ODFI before being submitted to the Federal Reserve for processing.
The FI issuing an ACH file(s) on behalf of its client.