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ACH Debit
An ACH debit occurs when the receiver’s account is debited.
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Lockbox
Lockbox refers to banking in which the funds are placed in a physical storage unit (such as a post office box). A bank would then visit the box, take the funds, and process them accordingly.
Related Terms
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SHR (Shared Network Transaction)
A one time debit entry to the account of a receiver where the entry is initiated at an electronic terminal. The entry is initiated into a shared...
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