-
COR (Notification of Change)
A COR entry is initiated by a receiving depository financial institution (RDFI) to inform an originator of incorrect information submitted in an entry. The originator must correct...
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
-
MICR (Magnetic Ink Character Recognition)
The information printed on a check in magnetic ink. The MICR information helps MICR scanners retrieve important information from the check including the routing number, account number...
Learn More
