WEB (Internet Initiated Entries)

A standard entry class code that enables an originator to debit a consumer’s account pursuant to an authorization obtained from the receiver via the internet.

Related Terms

  • ACH Debit

    An ACH debit occurs when the receiver’s account is debited.

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  • DFI (Development Finance Institution)

    A development finance institution (DFI) is an alternative type of financial institution that provides credit via loans, equity and more.

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