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On-Us Entry
Occurs when both the receiver and originator of a transaction have depository accounts at the same depository financial institution.
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Effective Rate
The effective rate shows the amount of volume a business pays in credit card processing fees to process a given amount. It is shown as a percentage, and is calculated by dividing gross processing fees by gross sales. Learn More
Related Terms
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Settlement Date
The date an exchange of funds will be reflected on the books of the Federal Reserve Bank.
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