-
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...
Learn More
Banking Day
A day on which the development financial institution (DFI) is open to the public and performing a majority of their banking functions, or, in the case of an ACH Operator, a day that the facility is operating.
Related Terms
-
Contact-Free Payment
Contact-free payments are transactions processed in a manner that removes the physical interaction between the purchaser and the merchant. A contract-free payment can be accomplished through a...
Learn More
