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Glossary of Terms



Automated Clearing House is a network which is used to originate and receive electronic financial transactions and correspondence between banking institutions.

ACH Reject/ACH Return

An ACH Return is issued by the RDFI………………Most common return responses are issued by the 4th hold day………. See also “Chargeback”.

ACH Operator

The ACH Operator serves as a central clearing facility that receives entries from the ODFIs and distributes the entries to the appropriate RDFI.


Banking Day

Any calendar day except Saturday, Sunday, and legally defined holidays (as defined in Regulations D and CC).


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).

Cash Concentration

Cash Concentration is the transfer of funds from diverse accounts into a central account to effect more efficient cash management.

Cash Disbursement

Cash Disbursement is transfer of funds from a central account to diverse accounts to effect more efficient cash management.


This refers to a client’s posted transaction which is successfully disputed by the customer and must be returned to the customer’s bank account or credit card.  ACH Chargebacks are listed as R05, R07, R10 and R29 declines within the Return Detail Report. 

Check Conversion

Using payment information from a check tendered for payment to initiate an electronic debit to the check writer’s account.  The electronic debit becomes an electronic transaction subject to the requirements of Regulation E.

Check Digit

The Check Digit refers to the final digit of a routing/transit number, which may be used to test the validity of a specific routing/transit number.


Clearing is the process of collecting the paper or electronic items from the drawee banks after being deposited by a customer.

Clearing House

A voluntary association of the depository institutions that facilitate the clearing of checks or electronic items through the direct exchange of funds among members.

Correspondent Bank

A bank that accepts deposits and performs banking services for other banks.  Correspondent banking arrangements exist between local banks and banks located throughout the world.

Collected Funds

Funds for which final payment has been received.


An entry to the record of an account to represent the transfer or placement of funds into the account.


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.

Forte Checkout

Forte Checkout is a next generation cardholder facing payment modal window.  Merchants or partners would integrate it into their webpage using our Forte Checkout developer documentation.

Forte Verify

Forte Verify s a positive verification service that allows a merchant to verify an account’s status real-time and is updated daily.  The Forte Verify® Response Codes can verify if the constituent’s bank account is open, active, and has a positive balance.  If a client declines to accept payment from a constituent, and the decline decision is either solely, or in part, based upon the Forte Verify® Response Code, the client must provide the constituent with written notice of whom the constituent may contact for more information on the response code.


The acronym ISO stands for Independent Sales Organization.  Partner and ISO may be used interchangeably.


ISO identification number 


NSF is an acronym for “Non-sufficient Funds”.  An NSF return would indicate that the account holder’s balance was not great enough to cover the balance of the debit transaction.


The Originating Depository Financial Institution (ODFI) is a financial institution which delivers ACH entries directly or indirectly through a third party to its ACH operator.  The ODFI acts as the interface between the Federal Reserve or ACH network and the originator of the transaction.


Origination is the process of creating ACH entries for submission through an ODFI to the ACH operator.

Partner Portal


The Receiving Depository Financial Institution (RDFI) is a financial institution which receives ACH entries directly or indirectly from its ACH operator and credits or debits funds from their receivers’ accounts.


An individual, corporation, or other entity that has authorized a company or an originator to initiate a credit or debit entry to a transaction account held at an RDFI.

Secure WebPay Checkout

Secure WebPay Checkout is a web-based cardholder-facing payment page hosted by Forte.  A simple setup wizard within the Virtual Terminal allows merchants to create a link leading to the payment page.  All merchants that have access to Forte’s virtual terminal can create an SWP Checkout link at no additional cost.

Source Document

The original record containing the details to substantiate a transaction entered in an accounting system. For example, a check or authorization letter used to create an ACH entry.

Virtual Terminal  

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