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