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

  • Check-by-Phone

    Check by Phone or "checks by phone" is the patented process of recreating and printing a check without having the original paper check. Check by Phone payments...

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