Basis Points is a financial term that describes one one-hundreth of a percent (1 basis point = .0001 or .01%). Normally, the addition of basis points for...Learn More
A one time debit entry to the account of a receiver where the entry is initiated at an electronic terminal. POS transactions are generally initiated with a merchant issued plastic card.
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...Learn More