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NACHA (National Automated Clearing House Association – The Electronic Payments Association)
The national trade association responsible for developing and enforcing ACH rules and guidelines.
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Settlement Date
The date an exchange of funds will be reflected on the books of the Federal Reserve Bank.
Related Terms
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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...
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