Receiver

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

Related Terms

  • ACH Debit

    An ACH debit occurs when the receiver’s account is debited.

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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...

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