Payment Glossary

ACH

Automated Clearing House – ACH is a reliable electronic funds transfer (EFT) system governed by National Automated Clearing House Association (NACHA).

Related Terms

  • 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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  • Remote Deposit

    Remote deposit (or remote deposit capture) is the process of converting paper or mailed-in checks to an electronic file for processing.

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