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...Learn More
MICR (Magnetic Ink Character Recognition)
Magnetic Ink Character Recognition refers to the recognition of the numbers that are typically found at the bottom of checks. Once recognized, the numbers can automatically be processed by a payment processor.
UDAP (Unfair or Deceptive Acts or Practices)
Unfair or Deceptive Acts of Practices (UDAP) is a collection of rules for banking regulations, aiming to protect credit card users while adding to card-related disclosures.Learn More