NCB National Cooperative Bank Treasury 24/7 User Guide

182

Glossary Terms

Terms

ACH Credit: A commercial batch payment that sends funds to multiple recipients through the ACH Network. ACH Debit: A commercial batch payment of several debits to the recipients’ accounts and one large credit to the user’s account. ACH Pass Thru: A commercial payment that allows users to import a single pre formatted file that contains multiple batches and SEC Codes. Customers: The set of users that are associated with a particular set of accounts. Every customer record will belong to only one group. Customers are either Commercial or Small Business/Consumer. Disable Login: The User cannot log in without FI assistance. Domestic Wire: Allows users to send a wire transfer to a recipient in the United States. EFTPS: A commercial payment that allows users to pay their taxes using digital banking. Financial Institution (FI): A company that focuses on dealing with financial transactions, such as investments, loans, and deposits. Funds Transfer: Allows users to transfer money between the internal accounts they own and have access to in digital banking. Groups: A category that organizes customers and users in ways that are managing and meaningful to NCB business. Groups are the first layer of rights and limits. International Wire: Allows Users to send a wire transfer to a recipient outside of the US. Secure Access Codes (SAC): A randomly generated code sent to an end user via phone, text, or email. Stop Payment: A request from an end user to prevent the FI from honoring a previously issued check. If the FI has not disabled the “For Multiple Checks” option in Treasury 24/7, then a single stop payment request may cover multiple checks for the same fee as one that covers a single check. Temporary Lockout: The User can log in again with the same credentials after a certain time has elapsed. Users: The records that describe a person. Every user belongs to a customer record, especially in the case of Commercial and Small Business banking where they contain multiple users.

Glossary Terms: Terms

Made with FlippingBook flipbook maker