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E-Check (or echeck)
E-Check payments are ACH payments that originate via the internet, telephone, point-of-sale (POS), or bill payment sent through the mail or unattended lockbox. For mail and lockbox...
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EFTA (Electronic Fund Transfer Act)
The Electronic Fund Transfer Act establishes the rights and liabilities of consumers in addition to the responsibilities of anyone who participates in electronic funds transfers.
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PPD (Prearranged Payment and Deposit)
A credit or debit entry to the account of a receiver where there is either a standing or one time written authorization that has been signed or similarly authenticated.
