Message Authentication Code - MAC

AAA

DEFINITION of 'Message Authentication Code - MAC'

A security code that is typed in by the user of a computer to access accounts or portals. This code is attached to the message or request sent by the user. Message authentication codes (MACs) attached to the message must be recognized by the receiving system in order to grant the user access. MACs are commonly used in electronic funds transfers (EFTs) to maintain information integrity.

INVESTOPEDIA EXPLAINS 'Message Authentication Code - MAC'

Message authentication codes are usually required to access any kind of financial account. Banks, brokerage firms, trust companies and any other deposit, investment or insurance company that offers online access can employ these codes.

RELATED TERMS
  1. Debit

    An accounting entry that results in either an increase in assets ...
  2. Check

    A written, dated and signed instrument that contains an unconditional ...
  3. Credit

    1. A contractual agreement in which a borrower receives something ...
  4. Deposit

    1. A transaction involving a transfer of funds to another party ...
  5. Bank

    A financial institution licensed as a receiver of deposits. There ...
  6. Recurring Billing

    When a merchant automatically charges a cardholder for specified ...
RELATED FAQS
  1. No results found.
Related Articles
  1. Credit & Loans

    The Evolution Of Banking

    Banks are a part of ancient history. Find out how this system of money management developed into what we know today.
  2. Insurance

    Your First Checking Account

    This owner's manual will show you what to expect from your bank.
  3. Options & Futures

    Choose To Beat The Bank

    From internet banking to credit unions, it's in your power to cut fees and maximize service.
  4. Options & Futures

    The Chinese Wall Protects Against Conflicts Of Interest

    After the crash of 1929, this barrier helped define ethical limits, but it did little to prevent fraud.
  5. Retirement

    What Was The Glass-Steagall Act?

    Established in 1933 and repealed in 1999, the Glass-Steagall Act had good intentions but mixed results.
  6. Options & Futures

    Who Backs Up The FDIC?

    The FDIC insures depositors against loss, but what happens if it runs out of money?
  7. Economics

    A Ban On SWIFT Could Hit Russia Where It Hurts Most

    A SWIFT ban on Russia could have a crippling effect on its debt-servicing ability and overall economy, and just might force a change in its policy.
  8. Credit & Loans

    Which Is One Of The Nation’s Safest Banks?

    While there's no such thing as a completely safe bank stock, it's hard to find one that comes closer to the mark than New York Community Bancorp .
  9. Personal Finance

    Overdrafting

    An overdraft occurs when money is withdrawn from a bank account in an amount that exceeds the funds available in the account. Banks often permit this as a form of short-term loan to the account ...
  10. Personal Finance

    Mergers and Acquisitions Analysts: What They Do, How Much They Make

    Mergers and acquisitions analysts perform the the analysis and modeling to support buying, selling, restructuring, and combining companies.

You May Also Like

Hot Definitions
  1. Sunk Cost

    A cost that has already been incurred and thus cannot be recovered. A sunk cost differs from other, future costs that a business ...
  2. Technical Skills

    1. The knowledge and abilities needed to accomplish mathematical, engineering, scientific or computer-related duties, as ...
  3. Prepaid Expense

    A type of asset that arises on a balance sheet as a result of business making payments for goods and services to be received ...
  4. Gordon Growth Model

    A model for determining the intrinsic value of a stock, based on a future series of dividends that grow at a constant rate. ...
  5. Cost Accounting

    A type of accounting process that aims to capture a company's costs of production by assessing the input costs of each step ...
  6. Law Of Supply

    A microeconomic law stating that, all other factors being equal, as the price of a good or service increases, the quantity ...
Trading Center