Payment Glossary

Banking Day

A day on which the development financial institution (DFI) is open to the public and performing a majority of their banking functions, or, in the case of an ACH Operator, a day that the facility is operating.

Related Terms

  • DNE (Death Notification Entry)

    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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  • Merchant

    A merchant is business that exchanges goods for monetary funds.

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