An ACH credit occurs when the receiver’s account is credited.Learn More
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 and check number. Special magnetic ink toner cartridges are used by check printers as well as authorized users of check by phone systems.
An account held at a development financial institution (DFI) which has been opened by a natural person and is used for personal needs.Learn More