Business Day

Refers to any weekday with the exception of federal holidays.

Related Terms

  • ENR (Automated Enrollment Entry)

    ENR entries are initiated by an receiving depository financial institution (RDFI), at the request of a receiver, to enroll the receiver in direct deposit or direct payment...

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  • Lockbox

    Lockbox refers to banking in which the funds are placed in a physical storage unit (such as a post office box). A bank would then visit the...

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