Existing Relationship

There is an existing relationship between an originator and a receiver when there is either a written agreement in place or when the receiver has purchased goods or services from the receiver within the past two year.

Related Terms

  • 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...

    Learn More
  • Discount Rate

    Merchants are charged a fee for the processing services that enable them to accept cards as payment. This fee, called the "merchant discount” or "discount rate,” is...

    Learn More