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EFT (Electronic Funds Transfer)
The electronic exchange or transfer of money from one account to another, either within a single financial institution or across multiple institutions, through computer-based systems.
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OCR (Optical Character Recognition)
A technology that enables you to convert different types of documents into editable and searchable data.
Related Terms
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On-Us Entry
Occurs when both the receiver and originator of a transaction have depository accounts at the same depository financial institution.
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