ETA Glossary Terms questions with complete solutions

A2A (Account-to-Account) correct answers The automatic transfer of funds from one account to another. An example is the Fedwire or wire transfer transaction. AAV correct answers See Accountholder Authentication Value. ABA correct answers See American Bankers Association. ABA Transit Routing Number correct answers The unique number devised by the American Bankers Association (ABA) in 1910 that identifies the bank issuer of depository accounts. It is a 10‐digit number (nine digits and a verification digit) issued by the Federal Reserve Bank to identify each bank by a bank identification number. This number (also called the ABA number and the routing transit number) has changed over the years to accommodate such things as the Federal Reserve System, the advent of MICR, and the implementation of the Expedited Funds Availability Act (EFAA). It is used both in check processing and in the ACH (Automated Clearing House) routing of electronic checking account debits. The number is usually the first sequence of numbers preceding an account number at the bottom of a check. Acceptance Criteria correct answers The parameters, procedures, and requirements set up by a risk management and underwriting department that must be met before entering into a contract or arrangement. These criteria apply to the merchant as well as the ISO/MSPs. Typical criteria include financial statements, background checks, site visits, credit checks, product review, and web site review. Acceptance Mark correct answers A word, n