POS (Point-of-Sale)

A one time debit entry to the account of a receiver where the entry is initiated at an electronic terminal. POS transactions are generally initiated with a merchant issued plastic card.

Related Terms

  • NCUA (National Credit Union Administration)

    The National Credit Union Administration is an independent federal agency that regulates federal credit unions. It also operates the National Credit Union Share Insurance Fund.

    Learn More

  • Settlement Date

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

    Learn More