Payment Glossary

Remote Deposit

Remote deposit (or remote deposit capture) is the process of converting paper or mailed-in checks to an electronic file for processing.

Related Terms

  • Banking Day

    A day on which the development financial institution (DFI) is open to the public and performing a majority of their banking functions, or, in the case of...

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  • EFT (Electronic Funds Transfer)

    The electronic exchange or transfer of money from one account to another, either within a single financial institution or across multiple institutions, through computer-based systems.

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