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Settlement Date
The date an exchange of funds will be reflected on the books of the Federal Reserve Bank.
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Value Added Reseller (VAR)
A value added reseller is a company that sells products and / or services that are repackaged for specific needs.
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WEB (Internet Initiated Entries)
A standard entry class code that enables an originator to debit a consumer’s account pursuant to an authorization obtained from the receiver via the internet.
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