-
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
RDFI (Receiving Depository Financial Institutions)
A financial institution qualified by the National Automated Clearing House Association (NACHA) to receive ACH transactions.
Related Terms
-
TILA (Truth in Lending Act)
The Truth in Lending Act requires the full disclosure of finance charges and terms with regard to costs associated with borrowing.
Learn More
