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Business Day
Refers to any weekday with the exception of federal holidays.
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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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On-Us Entry
Occurs when both the receiver and originator of a transaction have depository accounts at the same depository financial institution.
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