Glossary
N
| Term | Definition |
|---|---|
| National Automated Cleaning House Associ |
The national association that establishes the standards, rules and procedures that enable depository financial institutions to exchange ACH payments on a national basis. |
| Non-Qualified Discount Surcharge |
discount rate and sometimes transaction fee charged in addition to the qualified discount rate for transactions that do not meet the qualified or mid-qualified requirements. Additionally, Visa/MasterCard/Discover business card transactions and key-entered foreign card transactions will always be charged the non-qualified rate |
| Non-Qualified Transactions |
A card transaction that does not meet qualifications for authorization by the card-holder’s bank—qualifications such as receipt of a valid billing address or completion of batch settlement within three days. |
| NSF (Non-Sufficient Funds) |
Used to indicate that a demand for payment cannot be honored because insufficient funds are available in the account on which the instrument was drawn. |
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