-
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
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.
Related Terms
-
EFTA (Electronic Fund Transfer Act)
The Electronic Fund Transfer Act establishes the rights and liabilities of consumers in addition to the responsibilities of anyone who participates in electronic funds transfers.
Learn More
