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ACH Debit
An ACH debit occurs when the receiver’s account is debited.
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Auxiliary On-Us Field
A field on the magnetic ink character recognition (MICR) line of a check or share draft. This is an optional field that can be found to the left of the routing number. The presence of this field makes the check in-eligible to be used as a source document for accounts receivable conversion (ARC), back office conversion (BOC), and point-of-purchase (POP) entries.
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TEL (Telephone Initiated Entries)
A standard entry class code that enables the originator to initiate a single entry debit to a consumer’s account pursuant to a consumer’s oral authorization obtained over...
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