COR (Notification of Change)

A COR entry is initiated by a receiving depository financial institution (RDFI) to inform an originator of incorrect information submitted in an entry. The originator must correct the information within six business days or before initiating another entry to the receivers account.

Related Terms

  • Acquirer

    An acquirer is a bank that processes credit and debit card transactions for a merchant.

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  • Tokenization

    Tokenization replaces sensitive financial account information with a random string of characters, called a token. Learn More

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