Benefit payment

Benefit payment means a Federal benefit payment referred to in 212.2 paid by direct deposit to an account with the character XX encoded in positions 54 and 55 of the Company Entry Description field and the number 2 encoded in the Originator Status Code field of the Batch Header Record of the direct deposit entry.

Source

31 CFR § 212.3

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Scoping language

For the purposes of this part, the following definitions apply.

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