Receiver

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

Related Terms

  • ARC (Accounts Receivable Entry)

    An ARC entry is a one time debit entry to the account of a receiver whom has previously been notified that their check (source document) will be...

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  • Discount Rate

    Merchants are charged a fee for the processing services that enable them to accept cards as payment. This fee, called the "merchant discount” or "discount rate,” is...

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