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

  • OTS (Office of Thrift Supervision)

    The Office of Thrift Supervision, between 1989 and 2011, was a federal agency that regulated all savings banks (chartered and state-chartered), savings associations, and loans associations.

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  • Surcharge

    A surcharge is an extra fee that’s added to the regular total amount.

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