WEB (Internet Initiated Entries)

A standard entry class code that enables an originator to debit a consumer’s account pursuant to an authorization obtained from the receiver via the internet.

Related Terms

  • ACH Debit

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

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  • DFA (Dodd-Frank Act)

    The Dodd-Frank Act was made effective in 2010 to promote financial stability in the U.S. by increasing accountability and transparency.

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