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DCC
See Dynamic currency conversion (DCC).
DDA
See Demand deposit account (DDA).
De novo
A newly chartered bank that is not acquired through purchase. This may also include a newly opened bank branch.
Debit
An amount of money paid from an account, that results in the increase of an asset or a decrease in a liability or owner's equity on the balance sheet.
Debit card
A card resembling a credit cards, but which debits a transaction account (e.g., checking account) with the customer's purchases.
Deceased status
The status an end user has once they have been reported as deceased by a third-party or Helix receives a return reason code of R15 by the end user's external account. Once an end user has been placed in Deceased status, their SSN is no longer eligible to create an account in Helix.
A deposit account that permits the depositor to withdraw funds on demand. Usually, but not always, a checking account.
The status an applicant has once they are denied during registration or manually by the Helix bank of record. Applicants can be denied automatically due to alerts during the IDology, or IQ Question scans. They may be denied manually by the Helix bank of record after having been in a Manual Review status.
Deposit insurance
Insures the deposits of individuals covered by the Federal deposit insurance corporation (FDIC).
Depository insitution
Financial institution that obtains its funds mainly through deposits from the public; includes commercial banks, savings and loan associations, savings banks, and credit unions.
Direct deposit
Electronic transfer of a payment directly from the account of the payer to the recipient's account.
Dispute
A situation in which a customer questions the validity of a transaction posted to an account.
A full-featured case management solution provided by Centrix Solutions, a Q2 company, DTS is designed to assist with the administration of disputed electronic transactions (debit card, ATM, ACH, and remittance transfers) for the purpose of Reg E compliance. It offers a paperless, browser-based user experience for employees who take disputes, automated posting of adjustment transactions, timeline management, approval workflow, letter production, and reporting.
Dormant Account
An account that has no activity for a long period of time, other than posting interest.
Drawdown
A gradual accessing of credit funds.
DTS
See Dispute tracking system (DTS).
Dual issuance single PAN model
Indicates a program that can issue a digital-only card at account opening, with the option to order a physical card
Examples:
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A digital card is ordered at account opening
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A physical card and digital card are ordered at account opening
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A digital card is ordered at account opening, and a physical card is ordered at a later date
Due diligence
Refers to the care an individual should take before entering into an agreement or a financial transaction with another party.
Durbin Amendment
Amendment that limits transaction fees imposed upon merchants by debit card issuers.
Dynamic currency conversion (DCC)
The process whereby the amount of a Visa or Mastercard transaction is converted by a merchant or ATM to the currency of the payment card's country of issue at the point of sale.
