-
EFT (Electronic Funds Transfer)
The electronic exchange or transfer of money from one account to another, either within a single financial institution or across multiple institutions, through computer-based systems.
Learn More
ARC (Accounts Receivable Entry)
An ARC entry is a one time debit entry to the account of a receiver whom has previously been notified that their check (source document) will be converted into a single entry ACH transaction. The receiver must provide the source document to the originator via a drop box location or through the U.S. mail.
Related Terms
-
HIPPA (Health Insurance Portability and Accountability Act)
The Health Insurance Portability and Accountability Act attempts to fight again abuse, fraud and waste within health insurance and general health care delivery.
Learn More
