Payment Glossary

Consumer Account

An account held at a development financial institution (DFI) which has been opened by a natural person and is used for personal needs.

Related Terms

  • Auxiliary On-Us Field

    A field on the magnetic ink character recognition (MICR) line of a check or share draft. This is an optional field that can be found to the...

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  • Lockbox

    Lockbox refers to banking in which the funds are placed in a physical storage unit (such as a post office box). A bank would then visit the...

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