Demand Deposit Account (DDA)

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Answer:

The merchant bank account that the acquirer/processor credits or debits for deposits, fees, and adjustments. Also used by consumers for funds access. Funds can be accessed by check, debit card, or the Automated Clearing House (ACH). Also called a checking account.

Related Topics:

• Merchant Accounts
• eCommerce
• VERePAY
• CISP