Interchange

Interchange is a small fee paid by a merchant’s bank (acquirer) to a cardholder’s bank (issuer) to compensate the issuer for the value and benefits that merchants receive when they accept electronic payments.

Related Terms

  • ACH Credit

    An ACH credit occurs when the receiver’s account is credited.

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  • DNE (Death Notification Entry)

    A notice made only by the federal government to notify the receiving depository financial institution (RDFI) of the death of a receiver.

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