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

  • NACHA (National Automated Clearing House Association – The Electronic Payments Association)

    The national trade association responsible for developing and enforcing ACH rules and guidelines.

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  • Surcharge

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

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