Receiver

Any company, organization or entity authorizing an originator to initiate an ACH credit or ACH debit transaction.

Related Terms

  • FACTA (Fair and Accurate Credit Transactions Act)

    Passed in 2003, the Fair and Accurate Credit Transactions Act enables consumers to request a free credit report from the top three credit reporting companies. These free...

    Learn More
  • POP (Point-of-Purchase)

    A one time debit entry to the account of a receiver whom is notified, at the point of purchase, that their check (source document) will be converted...

    Learn More