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Consumer Account
An account held at a development financial institution (DFI) which has been opened by a natural person and is used for personal needs.
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Remote Deposit
Remote deposit (or remote deposit capture) is the process of converting paper or mailed-in checks to an electronic file for processing.
Related Terms
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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...
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