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ACH
Automated Clearing House - ACH is a reliable electronic funds transfer (EFT) system governed by National Automated Clearing House Association (NACHA).
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Banking Day
A day on which the development financial institution (DFI) is open to the public and performing a majority of their banking functions, or, in the case of an ACH Operator, a day that the facility is operating.
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MICR (Magnetic Ink Character Recognition)
The information printed on a check in magnetic ink. The MICR information helps MICR scanners retrieve important information from the check including the routing number, account number...
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