5 Questions
Which financial institution is the payer in a typical ACH credit transaction?
ODFI
Who authorizes the deposit of their paycheck through direct deposit in a typical ACH credit transaction?
Payee
Which financial institution verifies the direct deposit payroll ACH files in a typical ACH credit transaction?
ODFI
Which financial institution routes the ACH transaction to the payee's financial institution in a typical ACH credit transaction?
ACH operator
Which financial institution settles the transaction between the participating financial institutions in a typical ACH credit transaction?
ACH operator
Test your knowledge on ACH credit transactions and the roles of employers and employees in the direct deposit process.
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