FDIC (Federal Deposit Insurance Corporation)
The Federal Deposit Insurance Corporation provides deposit insurance to depositors within U.S. banks. Its primary source of funding is through member dues from included banks.Learn More
A one time debit entry to the account of a receiver whom is notified, at the point of purchase, that their check (source document) will be converted into a single entry ACH transaction. The source document must be voided and returned to the receiver at the point of purchase.
OFAC (Office of Foreign Asset Control)
The part of the US Treasury Department responsible for enforcing United States economic and trade sanctions.Learn More