Glossary of Terms A-B C-D E-F I-J L-M N-O P-R S-T U-Z

CheckGateway.com’s Glossary of Financial Terms (N-O)

Use CheckGateway.com as your information resource. Look through our glossary to get the details you need about merchant services, fraud protection and ACH processing.

National Automated Clearing House Association (NACHA)

A membership organization that provides marketing and education assistance and establishes the rules, standards and procedures that enable Financial Institutions to exchange ACH payments on a national basis.

Not Sufficient Funds (NSF)

A type of ACH return indicating that a customer’s bank account does not have sufficient funds to cover a transaction.

Notification of Change

Notification to a merchant from a customer's bank indicating the bank account information provided with a specific transaction is incorrect.

Originating Depository Financial Institution (ODFI)

A participating financial institution that originates ACH entries at the request of and by agreement with its customers.

Originator

The individual or business that receives authorization from a customer to refund or charge their bank account.