TEL (Telephone Initiated Entries)

A standard entry class code that enables the originator to initiate a single entry debit to a consumer’s account pursuant to a consumer’s oral authorization obtained over the telephone. This type of transaction may be used only in those instances where (1) there is an existing relationship between originator and consumer, or (2) in the absence of such relationship the consumer has been the party to initiate the call.

Related Terms

  • COR (Notification of Change)

    A COR entry is initiated by a receiving depository financial institution (RDFI) to inform an originator of incorrect information submitted in an entry. The originator must correct...

    Learn More
  • DNE (Death Notification Entry)

    A notice made only by the federal government to notify the receiving depository financial institution (RDFI) of the death of a receiver.

    Learn More