depository financial institution


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Related to depository financial institution: Receiving Depository Financial Institution
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.depository financial institution - a financial institution that accepts deposits and channels the money into lending activitiesdepository financial institution - a financial institution that accepts deposits and channels the money into lending activities; "he cashed a check at the bank"; "that bank holds the mortgage on my home"
financial institution, financial organisation, financial organization - an institution (public or private) that collects funds (from the public or other institutions) and invests them in financial assets
banking industry, banking system - banks collectively
credit union - a cooperative depository financial institution whose members can obtain loans from their combined savings
Federal Reserve Bank, reserve bank - one of 12 regional banks that monitor and act as depositories for banks in their region
agent bank - a bank that acts as an agent for a foreign bank
commercial bank, full service bank - a financial institution that accepts demand deposits and makes loans and provides other services for the public
state bank - a bank chartered by a state rather than by the federal government
agent bank, lead bank - a bank named by a lending syndicate of several banks to protect their interests
member bank - a bank that is a member of the Federal Reserve System
merchant bank, acquirer - a credit card processing bank; merchants receive credit for credit card receipts less a processing fee
acquirer - a corporation gaining financial control over another corporation or financial institution through a payment in cash or an exchange of stock
thrift institution - a depository financial institution intended to encourage personal savings and home buying
Home Loan Bank - one of 11 regional banks that monitor and make short-term credit advances to thrift institutions in their region
References in periodicals archive ?
The size of the check payment market and the relationship between checks and electronic payments are significant issues for payment system participants, including the Federal Reserve, depository financial institutions, payment processors and vendors, businesses, and consumers.
The agreements required under the operating rules exist between the company initiating the payment instructions (originator) and its originating depository financial institution; the originating depository financial institution and the originating gateway operator, which is the exit point from the national system; and the originating gateway operator and the receiving gateway operator, which is the entry point to the receiving country's national payments system.
Over two decades ago, the ACH was developed to process electronic payments on behalf of depository financial institutions who anticipated that check volume might ultimately swamp the existing check processing system.
ODFI (Originating Depository Financial Institutions) Initiate ACH transactions on behalf of their customers or themselves.
(For certain businesses with routine large cash transactions such as a retail store, a depository financial institution can file a Designation of Exempt Person Form.)
The Reserve Banks and private-sector ACH operators (PSOs) rely on each other to process some transactions in which either the originating depository financial institution or receiving depository financial institution is not their customer.
Concurrent with the release of 2016 ACH volume information, NACHA also announced the Top 50 Originating Depository Financial Institutions and Receiving Depository Financial Institutions in 2016.
For example, many of our users are Originating Depository Financial Institutions (ODFIs) that initiate transactions on behalf of Third-Party Senders.

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