Settlement Date

The date an exchange of funds will be reflected on the books of the Federal Reserve Bank.

Related Terms

  • E-Check (or echeck)

    E-Check payments are ACH payments that originate via the internet, telephone, point-of-sale (POS), or bill payment sent through the mail or unattended lockbox. For mail and lockbox...

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  • POS (Point-of-Sale)

    A one time debit entry to the account of a receiver where the entry is initiated at an electronic terminal. POS transactions are generally initiated with a...

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