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highradius.com
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Definitions (47)
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accounts receivable entry
A single entry ACH debit to a consumer’s account originated from converting a consumer check (source document) delivered to an Originator via the U.S. mail or at a drop box location or (effective March 16, 2012) in person for a payment of a bill at a manned location
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ach
The Automated Clearing House network.
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ach network
The funds transfer system governed by the rules of NACHA which provides for the inter-financial institution clearing of electronic entries for participating financial institutions.
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ach participants directory
A directory, produced by NACHA that lists all RDFIs. This file distinguishes between members of clearing houses and those that participate only through the Federal Reserve.
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addenda record
An ACH record type that carries supplemental data on a particular entry. Used with a type code that identifies the type of entry it supports.
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ansi x 12
A communications format for electronic business data interchange established by the American National Standards Institute, supported by the American Bankers Association.
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authentication
A data security technique used to ensure that the professed sender of information or a payment order is actually who they claim to be.
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authorization
A written agreement signed by an employee or customer, or an authenticated electronic process, that allows the posting of debits or credits arising from ACH transactions to the employee’s or customer’s account.
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automated clearing house
A nationwide electronic funds transfer network which enables participating financial institutions to distribute electronic credit and debit entries to bank accounts and to settle such entries.
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automatic enrollment
A credit or debit enrollment entry initiated by a participating DFI to a Federal Government Agency on behalf of an account holder at the DFI.
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