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

  • FOIA (Freedom of Information Act)

    The Freedom of Information Act provides either full or partial disclosure of unreleased information that is controlled by the U.S. government.

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  • Settlement Date

    The date an exchange of funds will be reflected on the books of the Federal Reserve Bank.

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