Payment Glossary

ACH Operator

ACH operator is the term used to describe the switching mechanism within the settlement network that provides information to the network participants. The ACH operator calculates the settlement totals owed to and by the participating financial institutions based on the effective entry and processing dates of batches of transactions.

Related Terms

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    The Consumer Financial Protection Bureau (CFPB) is a government agency that is responsible for protecting consumers from questionable financial practices.

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    A notice made only by the federal government to notify the receiving depository financial institution (RDFI) of the death of a receiver.

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