However, this means they can only receive electronic payments, and their customers cannot send them. Regardless, they must do so in an adequate number of business days to remain qualified.Īn institution can choose to be an RDFI without being an ODFI. Many of these institutions can post payments on the same banking day they’re received. The term timely refers to how quickly payments are posted, as well as how quickly notifications are sent.
0 Comments
Leave a Reply. |