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FDIC (Federal Deposit Insurance Corporation)
The Federal Deposit Insurance Corporation provides deposit insurance to depositors within U.S. banks. Its primary source of funding is through member dues from included banks.
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Chargeback (Card Processing)
A chargeback is a transaction that is returned by the card issuer to a merchant’s acquirer bank because of a dispute, processing or point-of-sale error, or fraudulent transaction.
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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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