Bank Models
Licensing vs AoP
Vertical Restrictions
ACH Authorizations
100

GC Inc. leverages 2 operating models via 2 banks. Under the _______ _______ model, GC is the Program Manager and processes payments under the bank's license and authority.

What is the Bank Sponsor model?

100

Unlucky number which represents the number of states GC is licensed in.

What is 13?

100

Three reasons GC may encounter vertical restrictions.

What are GC internal risk appetite, sponsor bank policy and agent of the payee restriction?

100

The names of 3 ACH Authorization types.

What are single entry, recurring and standing?

200

Under this model, GC Inc. is a licensed money transmitter in 13 states, a Money Services Business (MSB) under Federal regulations, and is relying on certain regulatory exemptions to offer its products and services directly to its customers through its bank sponsor.

What is a Direct Licensing Model?

200

The name of the exemption under which GC operates in states we are not licensed in.

What is Agent of the Payee?

200

ACH Authorization which must specify amount and frequency of debits.

What is recurring?

300

GC's merchant is a management company which collects rental payments from tenants and pays landlords. GC must process these payments via ____ bank.

What is CFSB?

300

ACH Authorization in which each subsequent debit must be initiated by a payer's affirmative action.

What is Standing?

400

The record of authorization must be retained by the Originator for a period of _________ following the termination or revocation of the authorization.

What is 2 years?