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Definition Edit

Financial institution Edit

A receiver is

[a]n individual, corporation, or other entity that has authorized a company or an originator to initiate a credit or debit entry to a transaction account belonging to the receiver held at its RDFI.[1]
a natural person or an organization which has authorized an Originator to initiate an ACH entry to the Receiver’s account with the RDFI. A Receiver may be either a company or a consumer, depending on the type of transaction.[2]

Telecommunications Edit

A receiver is the listening device part of a telephone handset.

References Edit

  1. Information Society IT Examination Handbook, Retail Payment Systems, App. B, Glossary.
  2. "Understanding the ACH Network: An ACH Primer," at 1 (full-text).

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