Term of the Day

ACH

Automatic Clearing House. A nationwide electronic funds transfer network which enables participating financial institutions to distribute electronic creditand debitentries to bank accounts and to settle such entries.
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Usage Example
Banks also enable customer payments via other payment methods such as ACH, wire or telegraphic transfer, EFTPOS, and ATM.
Notable Quotable
"Remember, the price that people agree to in the pit is not the price that people think is going to exist in the future. It's the price that both sides vehemently agree won't be there." 
-Jeffrey Silverman
Term of the Day

service

1. A valuable actiondeed, or effort performed to satisfy a need or to fulfill ademand.
2. Law: formal delivery of a noticesummons, or writ
3. Banking: payment of interest or loan installment, or dividends, as scheduled.
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Usage Example
With a service company, your only concern is doing the job right and getting your invoice paid on time.