MTE (Machine Transfer Entry)

An entry initiated at an electronic terminal, such as an automated teller machine (ATM). This entry can either be a debit or a credit.

Related Terms

  • ACH

    Automated Clearing House - ACH is a reliable electronic funds transfer (EFT) system governed by National Automated Clearing House Association (NACHA).

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  • POS (Point-of-Sale)

    A one time debit entry to the account of a receiver where the entry is initiated at an electronic terminal. POS transactions are generally initiated with a...

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