Aside from the Automated Clearing House network (which connects all the banks in the United States), there are three other players involved in ACH payments:
- The Originating Depository Financial Institution (ODFI) is the banking institution that initiates the transaction.
- The Receiving Depository Financial Institution (RDFI) is the banking institution that receives the ACH request.
- The National Automated Clearing House Association (NACHA) is the nonpartisan governmental entity responsible for overseeing and regulating the ACH network.
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Fund your wallet via ACH or wire transfer to process faster ACH payments. As long as you have funds in your wallet, they may be processed the same day.
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