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Business Day
Refers to any weekday with the exception of federal holidays.
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Merchant Account
An account opened through a payment processor or financial institution that allows payees to accept credit card payments from a payer.
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ODFI (Originating Depository Financial Institution)
Financial institutions that originate ACH transactions on behalf of its customers. ODFI's must abide by the National Automated Clearing House Association (NACHA) Operating Rules.
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