Existing Relationship

There is an existing relationship between an originator and a receiver when there is either a written agreement in place or when the receiver has purchased goods or services from the receiver within the past two year.

Related Terms

  • Cashless Payments

    Cashless payments are digital methods for exchanging financial transactions between two parties. Using cashless payments provide an alternative to using traditional paper or coin currency. Cashless payments...

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  • TEL (Telephone Initiated Entries)

    A standard entry class code that enables the originator to initiate a single entry debit to a consumer’s account pursuant to a consumer’s oral authorization obtained over...

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