Consumer Account

An account held at a development financial institution (DFI) which has been opened by a natural person and is used for personal needs.

Related Terms

  • 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

  • Merchant Account

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

    Learn More