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Discount Rate
Merchants are charged a fee for the processing services that enable them to accept cards as payment. This fee, called the "merchant discount” or "discount rate,” is...
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Automated Teller Machine (ATM)
An automated teller machine (ATM) is a device that allows for the withdrawal of cash without the need of a human teller or cashier.
Related Terms
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Settlement Date
The date an exchange of funds will be reflected on the books of the Federal Reserve Bank.
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