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IPS Payments Glossary of Terms

B

Banking Day
Any calendar day except Saturday, Sunday and legally defined holidays (as defined in Regulations D and CC)
Batch
A group of records or documents considered as a single unit for the purpose of data processing.
Business Day
Any day on which a participating Depository Financial Institution (or ACH Operator) is open for carrying on substantially all of its business functions (as defined in Regulation E).

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