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.||”|
|“||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.||”|
A receiver is the listening device part of a telephone handset.
- ↑ Information Society IT Examination Handbook, Retail Payment Systems, App. B, Glossary.
- ↑ "Understanding the ACH Network: An ACH Primer," at 1 (full-text).
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