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...Learn More
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 box, take the funds, and process them accordingly.
UDAP (Unfair or Deceptive Acts or Practices)
Unfair or Deceptive Acts of Practices (UDAP) is a collection of rules for banking regulations, aiming to protect credit card users while adding to card-related disclosures.Learn More