ACH
Automated Clearing House: a network for batches of electronic account credits and debits.
Read the field guide Source: Federal Reserve Board ↗THE REFERENCE DESK / PLAIN ENGLISH
Less jargon.
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A compact dictionary for the names, stages and balances you meet in a payment. Use it alongside the full guides—not instead of your provider’s terms.
24 terms · checked 19 Sep 2026
ACH credit
An ACH entry that pushes funds to the receiver's account; payroll is a familiar example.
Read the field guide Source: Federal Reserve Board ↗ACH debit
An ACH entry that collects funds from the receiver's account, based on the required authorization.
Read the field guide Source: Federal Reserve Board ↗ACH operator
The intermediary that receives, sorts and delivers ACH entries and performs settlement functions.
Read the field guide Source: Federal Reserve Board ↗Authorization
The card-payment request and response stage. Approval is not the same thing as completed settlement.
Read the field guide Source: Mastercard ↗Authorization hold
A temporary reservation of available credit for a card purchase, potentially before the final amount is known.
Read the field guide Primary sources and dates in the linked guide.Available credit
The credit currently available to use. Pending charges and holds can affect it before charges post.
Read the field guide Primary sources and dates in the linked guide.Clearing
Exchanging payment details needed for account posting, fee calculation and settlement reconciliation.
Read the field guide Source: Mastercard ↗Direct deposit
An electronic deposit to an account. Payroll sent through ACH is an ACH credit.
Read the field guide Source: Federal Reserve Board ↗Early availability
A bank making incoming funds usable before their scheduled settlement. Eligibility and timing depend on its terms.
Read the field guide Primary sources and dates in the linked guide.FedNow
The Federal Reserve's instant-payment service used by participating institutions to serve their customers.
Read the field guide Primary sources and dates in the linked guide.Fedwire Funds
A Federal Reserve real-time gross settlement service. Interbank finality is distinct from retail delivery timing.
Read the field guide Primary sources and dates in the linked guide.ODFI
Originating Depository Financial Institution: the institution that submits an ACH entry to an operator.
Read the field guide Source: Federal Reserve Board ↗Payout
A transfer from a provider-held merchant balance toward the merchant's bank account. It is not the same as gross sales.
Read the field guide Primary sources and dates in the linked guide.Pending transaction
A card transaction not yet fully posted. Read the issuer's status and balance labels together.
Read the field guide Primary sources and dates in the linked guide.Posted transaction
A transaction recorded to the account beyond its pending stage. Posting does not itself decide a dispute.
Read the field guide Primary sources and dates in the linked guide.RDFI
Receiving Depository Financial Institution: the institution receiving an ACH entry and posting it to the receiver's account.
Read the field guide Source: Federal Reserve Board ↗Reconciliation
Matching activity and adjustments to payouts and balances, and explaining any remaining difference.
Read the field guide Primary sources and dates in the linked guide.Refund
A merchant's return of money for a sale. It is separate from an issuer-led dispute investigation.
Read the field guide Primary sources and dates in the linked guide.Remittance transfer
Here, a consumer's electronic transfer from the U.S. to a recipient abroad; specific federal coverage has conditions and exceptions.
Read the field guide Primary sources and dates in the linked guide.Reserve
Funds a provider restricts to cover possible obligations. The merchant's agreement determines the structure and release conditions.
Read the field guide Primary sources and dates in the linked guide.RTP
The Clearing House's instant-payment network, separate from the Federal Reserve's FedNow Service.
Read the field guide Primary sources and dates in the linked guide.Same Day ACH
ACH processing that can settle eligible entries on the same business day. Not an always-on instant-payment rail.
Read the field guide Primary sources and dates in the linked guide.Settlement
The funds-transfer stage between participating institutions. A merchant's payout can follow a separate schedule.
Read the field guide Source: Mastercard ↗No matching term.
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Short reading definitions for this U.S.-focused edition, not legal definitions or complete network rules. Prepared 19 Sept 2026. This local edition is not published. Browse all field notes →