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BOC (Back Office Conversion)
A BOC entry is a one time debit entry to the account of a receiver whom has, at the point of purchase, been notified that their check...
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IVR (Integrated Voice Response)
Integrated voice response or integrated voice recognition are payment systems that use the telephone to automate the capture of transactional information from a payer. Payers may either enter their payment information (routing number, account number, check number) via telephone keypad or read the payment information verbally. Learn more about IVR (Integrated Voice Response) here.
Related Terms
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Consumer Account
An account held at a development financial institution (DFI) which has been opened by a natural person and is used for personal needs.
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