ACK (ACH Payment Acknowledgement)
An ACK entry is an acknowledgement by the receiving depository financial institution (RDFI) confirming the receipt of a corporate credit or debit (CCD) credit entry.Learn More
SHR (Shared Network Transaction)
A one time debit entry to the account of a receiver where the entry is initiated at an electronic terminal. The entry is initiated into a shared network where the originating depository financial institution (ODFI) and receiving depository financial institution (RDFI) have an agreement.
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...Learn More