Existing Relationship

There is an existing relationship between an originator and a receiver when there is either a written agreement in place or when the receiver has purchased goods or services from the receiver within the past two year.

Related Terms

  • OCR (Optical Character Recognition)

    A technology that enables you to convert different types of documents into editable and searchable data.

    Learn More

  • Settlement Date

    The date an exchange of funds will be reflected on the books of the Federal Reserve Bank.

    Learn More