Not Registered? Create a New Account

Home arrow Glossary

IPS Payments Glossary of Terms

D

Debit
An entry to the record of an account to represent the transfer or removal of funds from the account.
Depository Financial Institution
A financial institution able to receive deposits from its customers or credits from the Federal Reserve Bank.
Direct Deposit
An ACH service that provides for the electronic transfer of funds directly into the account of a payee, usually an employee receiving pay or a Social Security beneficiary receiving retirement benefits.

[return]Up

Call IPS Toll Free Today 1-866-477-2432