Payment Glossary

ACH Debit

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

Related Terms

  • ACH Credit

    An ACH credit occurs when the receiver’s account is credited.

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  • MICR (Magnetic Ink Character Recognition)

    Magnetic Ink Character Recognition refers to the recognition of the numbers that are typically found at the bottom of checks. Once recognized, the numbers can automatically be...

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