askvity

What is the full form of CDI in banking?

Published in Banking Terminology 1 min read

The full form of CDI in banking, as found in the provided context, is Company Deposit Identifier.

This term refers to a specific payment type used for electronic account payments. Specifically, it's a unique identifier associated with company deposits, aiding in the settlement and reconciliation process. With CDI, a single, combined deposit from numerous transactions will appear on the account each day, simplifying bookkeeping. This is known as a "globular payment."

Related Articles