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
Auxiliary On-Us Field
A field on the magnetic ink character recognition (MICR) line of a check or share draft. This is an optional field that can be found to the left of the routing number. The presence of this field makes the check in-eligible to be used as a source document for accounts receivable conversion (ARC), back office conversion (BOC), and point-of-purchase (POP) entries.
Value Added Reseller (VAR)
A value added reseller is a company that sells products and / or services that are repackaged for specific needs.Learn More