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POP (Point-of-Purchase)
A one time debit entry to the account of a receiver whom is notified, at the point of purchase, that their check (source document) will be converted...
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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.
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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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