Terminology

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Across
  1. 3. The party or parties due payment indicated on a check
  2. 4. A participating depository financial institution that transmits entries directly or indirectly to an ACH Operator for transmittal to an another institution (ACRONYM)
  3. 10. Negative balances in customers checking or savings accounts
  4. 13. An individual, corporation or other entity who has authorized an Originator to initiate a credit, debit or non-monetary entry to their account held at the RDFI
  5. 14. Regulation that governs funds availability
  6. 15. A data element separator in an addenda record, designated by an asterisk (*)
  7. 17. The electronic transfer of funds for making payments whether sent or received
  8. 19. A process whereby checks are presented by transmission of information describing the check rather than the delivery of the check itself
  9. 20. The risk that a party to a transaction cannot provide the necessary funds, as contracted, in order for settlement to take place
  10. 25. The risk that the inability of one funds transfer participant to settle its commitments will cause other participants to be unable to settle their commitments as well
  11. 26. the first record of an ACH file containing information necessary to route, validate and track the ACH entries contained within the file
  12. 29. A procedure to recover funds from a financial institution that were paid to them on behalf of a depositor after their death or legal incapacity
  13. 30. A publication assembled by the Bureau of Fiscal Service of the U.S. Department of the Treasury that specifies the procedures to be used in ACH transactions originated on behalf of the U.S. Federal Gov’t
  14. 32. For most consumer debit entries, a written agreement with the originating company that is signed or similarly authenticated by an employee, customer, or member to allow payments processed through the ACH Network to be deposited in or withdrawn from the Receiver’s account at their financial institution
Down
  1. 1. The basic units of information in the EDI standards, containing a set of values that represent a single fact.
  2. 2. Three character code within an ACH company batch header record that identifies payment types within an ACH batch (ACRONYM)
  3. 5. An ACH Operator acting as a Gateway must not process ________ inbound IAT entries except for reversing entries.
  4. 6. The electronic transfer if funds into a checking or savings account from your employer, another company, or government agency
  5. 7. An SEC code that is used to identify an entry that is part of a payment transaction involving a financial agency’s office that is not located in the territorial jurisdiction of the United States. (ACRONYM)
  6. 8. A group of ACH batches initiated into the ACH Network or sorted for delivery to ACH receiving point(s)
  7. 9. This regulation imposes reserve requirements on certain deposits held by depository financial institutions.
  8. 11. A communications network used to sending and receiving information (ACRONYM)
  9. 12. A person or entitity that has authorized an ODFI to transmit, for the account of that person, a credit, debit, or non-monetary to their customer, employee, or vendor’s account
  10. 16. An ACH record that contains supplemental data related to an entry
  11. 18. A non-profit group that develops cross-industry national standards and houses several committees that establish and maintain guidelines and standards within the financial industry (ACRONYM)
  12. 21. The risk that a transaction is altered or delated due to an unintentional error
  13. 22. A non-monetary entry that may be send through the ACH network by an Originator to alert an RDFI that a live-dollar transaction with be forthcoming and that verification of the receivers account number is required.
  14. 23. A site where entries are collected from an ACH Operator for processing. It may be the RDFI, its data center, or a data processing service bureau authorized to receive entries on behalf of an RDFI
  15. 24. This is required when returning an item as unauthorized (R05, R07, R10, R37, R51, R53) (ACRONYM)
  16. 27. A person who has applied for and is entitled to Federal benefits payable by law and is designated as the recipient of funds
  17. 28. National Standard for imprinting checks in machine readable numbers and characters in magnetic ink- (ACRONYM)
  18. 31. A three digit code input by the ACH Operator to determine the Settlement Date of an item