Payment Glossary

ARC (Accounts Receivable Entry)

An ARC entry is a one time debit entry to the account of a receiver whom has previously been notified that their check (source document) will be converted into a single entry ACH transaction. The receiver must provide the source document to the originator via a drop box location or through the U.S. mail.

Related Terms

  • MICR (Magnetic Ink Character Recognition)

    The information printed on a check in magnetic ink. The MICR information helps MICR scanners retrieve important information from the check including the routing number, account number...

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  • UDAP (Unfair or Deceptive Acts or Practices)

    Unfair or Deceptive Acts of Practices (UDAP) is a collection of rules for banking regulations, aiming to protect credit card users while adding to card-related disclosures.

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