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ACH Credit
An ACH credit occurs when the receiver’s account is credited.
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ACH Operator
ACH operator is the term used to describe the switching mechanism within the settlement network that provides information to the network participants. The ACH operator calculates the settlement totals owed to and by the participating financial institutions based on the effective entry and processing dates of batches of transactions.
Related Terms
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Lockbox
Lockbox refers to banking in which the funds are placed in a physical storage unit (such as a post office box). A bank would then visit the...
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