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Acquiring Bank

Merchant Glossary: Acquiring Bank

An Acquiring Bank provides credit card merchant accounts. The acquiring bank is a bank that has a relationship with Visa and MasterCard and the merchant’s personal or business bank. It is sometimes referred to as the clearing bank, where credit card transactions are cleared through. The acquiring bank is responsible to clear transactions between the time they are charged to a cardholder and then deposited into the merchant’s bank account. The acquiring bank is the banking entity that actually makes the deposits into a bank account when credit cards are processed.

Other articles terms explained in the Merchant Glossary:

ABA Routing Number

ACH / Automated Clearing House

Acquiring Bank

ATM Debit Card

Authorization

Authorization Code

Authorization Fee

Authorization Only Transaction

Authorization Response

Average Ticket Size

AVS / Address Verification Service

Basis Points

Batch or Batch Processing

Business Type

Debit Card

BBB Accredited Business