What does each payment type mean?

The system receives the following types of payment: CHK (payment by check; means that a check has been issued for payment.), BOP (balance of payments; means that the Originating Depository Financial Institution will choose the method of payment based upon payee’s request or capabilities.) NON, ACH (automated clearinghouse; means that money will move electronically through the ACH), and FWT (Federal Reserve Funds/Wire Transfer; means that the funds were sent through the wire system).

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