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Automated Teller Machine (ATM)
An automated teller machine (ATM) is a device that allows for the withdrawal of cash without the need of a human teller or cashier.
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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 and check number. Special magnetic ink toner cartridges are used by check printers as well as authorized users of check by phone systems.
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Effective Rate
The effective rate shows the amount of volume a business pays in credit card processing fees to process a given amount. It is shown as a percentage,...
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