ABA
The 9-digit number (8 digits and a check verification number) devised by the American Bankers Association (ABA) that identifies a specific financial organization.
Account Type
Type of account available for Online Banking. For example, checking or savings.
ACH
Automated Clearing House. An electronic funds-transfer system run by the National Automated Clearing House Association (NACHA). Also an Online Banking service that allows you to make payments, including Federal and State tax payments, and collections.
Addenda Record
Additional record in the ACH NACHA file used with the Online Banking ACH service.
Batch
A group of transactions formatted into a NACHA file. The batch consists of a batch header (5 record), batch footer (8 record) and one or more entry detail transactions (6 record).
Batch ID
Provides batch parameters for ACH transactions.
CCD
Cash Concentration or Disbursement. An ACH debit or credit from or to a business account.
CCD+
Cash Concentration or Disbursement. An ACH debit or credit from or to a business account plus an addenda record in the NACHA file.
Control Amount
Dollar amount that sets the total for an entire ACH request.
Cut
The ACH process where all payments that are transmitted by a user are bundled and formatted into a NACHA file and sent for processing.
EFTPS
Electronic Federal Tax Payment System. Service that allows businesses to pay federal taxes electronically.
EIN
Employer Identification Number. A unique 9-digit number used to identify a business taxpayer. Also known as a Tax Identification Number (TIN). For individual taxpayers, the Tax Identification Number is their Social Security Number (SSN).
Federal Tax
Online Banking service that allows you to manage the origination of Federal tax payment credits in compliance with the Internal Revenue Service EFTPS program.
NACHA
National Automated Clearing House Association. NACHA develops operating rules and business practices for the Automated Clearing House (ACH) Network and for electronic payments in the areas of Internet commerce, electronic bill and invoice presentment and payment (EBPP, EIPP), e-checks, financial electronic data interchange (EDI), international payments, and electronic benefits services (EBS).
NACHA File
National Automated Clearing House Association file format. The ACH record format specifications described in the NACHA Operating Rules and Guidelines are the accepted and warranted payment format standards for payments delivered through ACH. This can consist of one or multiple batches. Multiple customers for one financial organization may appear in one file.
Originator
Any individual, corporation or other entity that initiates entries into the ACH Network.
PEP+
The ACH processing standard for the financial industry that provides full automation for processing outgoing and incoming ACH transactions, reporting and settlement.
Personal Limits
A display of your daily maximum limit and daily account limits.
PPD
Prearranged Payment and Deposit. An ACH debit or credit from or to a business account.
PPD+
Prearranged Payment and Deposit plus an addenda record in the NACHA file. An ACH debit or credit from or to a business account.
Receiver
An individual, corporation or other entity who has authorized an Originator to initiate a credit or debit entry to a transaction account held at an RDFI.
Subcategory
A description used for itemizing tax payments for certain business tax forms, such as Tax Form 941 and 720. The total dollar amount of the sub categories must total the payment amount.
Tax Type Code
A code that is used to identify the type of tax payment being made.
Template
Allows you to create and save a format that can be applied to frequent ACH payments, ACH collections, book transfers, and wires.
User Daily Account Limit
The limit for each account that user is entitled to and that is entitled to ACH or Wire services.
User Daily Limit
The dollar amount allowed per day for the sum of a user's ACH or Wire transactions.
Variance Amount
The difference between the Control Amount and the sum of the detail entry amounts for an ACH transaction.
|