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Glossary •
How Do I...
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FAQs
A B
C D
E F
G H
I J K L M
N O
P Q R
S T
U V
W X Y Z
A
ABA routing number
The 9-digit number (8 digits and a check verification digit) that identifies
a specific financial institution. Also referred to as a Bank Routing Number
or Routing Transit Number.
Account mask information
Editing criteria used to verify the accuracy of a payee's account number in
certain electronic payment transactions.
Activation
The process wherein a customer selects a payee account for bill presentment
and/or payment, agrees to the payee's terms and conditions, and establishes
the account within the payee's and the CSP's systems.
Aggregators
Service bureaus that provide bill presentment and/or payment consolidation
services.
Amount
The amount to be paid for each bill.
Authentication
The process that determines the identity of a party.
Authorization
An agreement between a receiver an originator that allows the originator to initiate
debits and/or credits to a receivers account.
Automated Clearing House (ACH)
Funds transfer system governed by NACHA Operating Rules, which provides for
interbank clearing of electronic entries for participating financial institutions.
Available bank account balance
The available balance as of the date posted by your bank. This balance reflects
the total amount of funds that is available for immediate withdrawal according
to your bank's funding availability policy. This amount may not be the same as
your current balance if there are holds or pending credits that have not been
posted to your account.
B
Bank routing number
The number that uniquely identifies a bank for payment processing. Also referred
to as an ABA Number or Routing Transit Number.
Bill consolidator
A Bill Service Provider that consolidates bills from other Bill Service Providers
or payees and delivers them for presentment to the Customer Service Provider.
Bill detail
Information from a payee that provides line-level information to a customer.
This may include specific billing event information such as credit card charges,
telephone calls, or kilowatts used.
Bill inbox
A list of the bills that you must approve before we will send a payment and any
notices from your payees.
Bill notification
A process whereby a customer is notified that an electronic bill is available
for review and payment.
Bill summary
The summary information from a payee that is essential to a customer to understand
what is owed. Typical information may include: amount owed, due date, payee,
payee's account number.
Bill/Invoice
An electronic or paper document sent to a customer indicating that a payment is due.
Biller Payment Provider (BPP)
An agent of the payee that accepts remittance information on behalf of the payee.
Biller Service Provider (BSP)
An agent of the payee that provides an EBPP service for the payee.
Billing cycle
The frequency with which a bill is received from a payee.
Billing questions
The phone number of your payee's billing department.
C
Check
The check number for each payment. If the payee accepts electronic payments,
this column will display "EFT" to let you know how the payment will be issued.
Check number
The check number if a check was issued for this payment or the electronic funds
transfer (EFT) number if the transaction was an electronic payment.
Cleared bank transactions
The posted transactions from your bank. Some banks only maintain the last 30
or 60 days of transactions on their website. We will download and display the
same number of transactions as your bank allows for downloads and let you know
how many days of transactions appear.
Cleared on
The date the transaction was posted to your bank account.
Consolidator
A Bill Service Provider that consolidates bills from multiple payees or
other Bill Service Providers (BSPs) and delivers them for presentment to
the Customer Service Provider (CSP).
Credit
An entry to the record of an account representing the transfer or placement of
funds into an account.
Customer
An individual or entity that receives goods or services that are subject to bills,
invoices, or statements. The typical receiver of a bill.
Customer Payment Provider (CPP)
An agent of the customer that originates payments on behalf of the customer.
Customer Service Provider (CSP)
An agent of the customer that provides an interface directly to customers,
businesses, or others for bill presentment. CSP enrolls customers, enables
presentment, and provides customer support, among other functions.
Customer service
The phone number of your payee's customer service department.
D
Data Transmission
The electronic exchange of information between 2 or more data processing points.
Debit
An entry to request transfer or withdrawal of funds from an account.
Debit Transaction
A payment transaction originated by a payee, which has been authorized by
the customer, to withdraw funds from the customer's account.
Description
The payee name for this payment.
Due
The date that each bill is due at the payee's location. You should schedule
payment five to seven business days before the due date in this list. If a
bill arrives as Due Upon Receipt, the date that the payment arrived is listed
as the due date.
E
E-mail address
An electronic mail address, usually belonging to the customer, to which banking
correspondence can be sent.
Electronic Bill Presentment and Payment (EBPP)
The electronic presentation of statements, bills, invoices, and related information
sent by a company to its customers, and corresponding to payment for goods or services.
Electronic Funds Transfer (EFT)
Electronic payment such as ACH or wire transfer.
Electronic payment
Any non-paper-based type of payment.
Encryption
Computer-generated algorithm that allows secure communication between parties.
Enrollment
The process associated with a customer establishing a relationship with a CSP.
F
Federal reserve
Central bank of the United States that sets monetary policy and provides services
to financial institutions.
Financial institution (FI)
A state or federally-chartered depository institution, such as a bank, savings and
loan, or credit union.
Float
The amount of time represented by checks that are in transit between banks for
collection. Includes processing and mail time.
Funding account description
A description you assign to the funding account to identify it.
G
Guaranteed funds
A situation where both buyer and seller know funds are available at the
time of the payment.
I
Invoice (or billing) cycle
The period of time which includes the recurring events of updating, invoicing,
and charging for services rendered.
N
National Automated Clearing House Association (NACHA)
NACHA is a national, payment association that 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 payments (EBPP, EIPP), e-checks, financial
electronic data interchange (EDI), international payments, and electronic
benefit transfer (EBT). NACHA also provides information and education to members.
Non-sufficient funds (NSF)
Insufficient funds available to settle a payment.
Notification of Change (NOC)
An ACH entry that notifies an originator that information contained in an entry is
incorrect or erroneous.
P
Paid from
The payment account that will be used for this payment.
Password
The password you use to access your online banking account.
Payee
A company or organization that sends a bill, invoice, or statement, usually
a request for payment for a product or service, to a customer.
Payee nickname
A description you assign to identify a payee.
Payment
A vehicle to affect the transfer of value.
Payment authorizations/instructions
Instructions for routing/posting the payment (e.g., indicates into which bank
account payments should be deposited).
Payment category
The group that you assign to a payee to during setup.
Payment due date
The date by which the payee requires payment from the customer.
Payment instructions
The instructions for routing/posting the payment (e.g., indicates into which
bank account payments should be deposited).
Payment instruments
The instruments required to initiate a payment.
Payment method
A method used to facilitate and process a payment.
Payment outbox
The scheduled payments, including those you approved and those you scheduled for
automatic payment.
Payment posted date
The date on which a payment is posted to an account.
Payments system
A system or network used to process payments.
Personal Finance Management or Manager (PFM)
Personal Finance Manager Software used by a customer to manage his or her
checking account, etc. Often includes categorization, reporting, and graphing
capabilities.
Personal Identification Number (PIN)
A code used to authenticate an account holder.
Posting
The process of recording debits and credits to account balances.
R
Received from
The payee for each item. If you specified a nickname for the payee, that name
is used in this list.
Reversals
An ACH entry or file sent with required deadlines to "correct' or reverse
a previously originated duplicate or erroneous entry or file.
S
Secured Socket Layer (SSL)
A security protocol to enable encrypted, authenticated communications across
the Internet.
Seller
A payee or vendor. An entity providing product or services.
Send on
The date that each payment will be initiated to the payee. This is also the
date on the check.
Send to
The nickname for each payee.
Settlement
The process by which buyers and sellers or issuers and acquirers exchange
financial data and value resulting from sales transactions.
Statement/Notice
An electronic or paper document sent to a customer or agent that does not
have a payment due associated with it.
T
Total due
The total amount due for each bill.
Total uncleared transactions
The total amount of all uncleared transactions.
Transit Routing Number
See ABA Routing Number.
U
Uncleared transactions
The transactions for the selected account that have not been posted by your
bank. Transactions for other accounts will not appear in this list.
User ID or Account number
The account information that the you use to log in to your payee's website.
W
Website address
The website address of your payee.
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