-
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...
Learn More
Merchant
A merchant is business that exchanges goods for monetary funds.
Related Terms
-
MICR (Magnetic Ink Character Recognition)
The information printed on a check in magnetic ink. The MICR information helps MICR scanners retrieve important information from the check including the routing number, account number...
Learn More
