Receiver

Any company, organization or entity authorizing an originator to initiate an ACH credit or ACH debit transaction.

Related Terms

  • Chargeback (Card Processing)

    A chargeback is a transaction that is returned by the card issuer to a merchant’s acquirer bank because of a dispute, processing or point-of-sale error, or fraudulent...

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  • EFTA (Electronic Fund Transfer Act)

    The Electronic Fund Transfer Act establishes the rights and liabilities of consumers in addition to the responsibilities of anyone who participates in electronic funds transfers.

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