ACH – This stands for automated clearing household, which is especially a way utilized to transfer funds to and from bank accounts.
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Charge off – This is the charge card debt or loan that's written off as getting uncollectible from the borrower. This occasionally is the situation when the loan has become marketed or specified the debt to some collection agency. This credit card debt continues to be collectable.
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Debit card – This can be a card issued by a lender or Several other economic establishment and sometimes useful for purchases. The acquisition is deducted directly from a examining account.
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