COR (Notification of Change)

COR (Notification of Change)

A COR entry is initiated by a receiving depository financial institution (RDFI) to inform an originator of incorrect information submitted in an entry. The originator must correct the information within six business days or before initiating another entry to the receivers account.

Related Terms

  • Mobile Payments

    Mobile payments allow for anytime, anywhere payments using a mobile phone, tablet, and more. Learn More

    Learn More
  • Payment Gateway

    A payment gateway is an application service provider that authorizes credit card and electronic check payments for businesses. A payment gateway facilitates the transfer of information between...

    Learn More