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

  • Merchant Account

    An account opened through a payment processor or financial institution that allows payees to accept credit card payments from a payer.

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  • Remote Deposit

    Remote deposit (or remote deposit capture) is the process of converting paper or mailed-in checks to an electronic file for processing.

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