Originator has a number of meanings.
An originator can be a financial institution that initiates a wire transfer of funds to another account – i.e. the origin of the money transfer.
Originator is also the term used when referring to the clearing of Automated Clearing House Network (ACH) transactions, to describe the person or corporate institution that has received authorisation from a customer to refund or charge their bank account. As the ACH network is used, it will be an electronic transfer of funds. Here, the merchant is the originator.
In some instances, an originator can also refer to mortgage lending. The originator here is the institution or individual who works with borrower – the company or person needing the money – to complete a mortgage transaction.
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