Direct Debit

A direct debit or direct withdrawal is a financial transaction in which one person withdraws funds from another person's bank account. Formally, the person who directly draws the funds ("the payee") instructs his or her bank to collect (i.e., debit) an amount directly from another's ("the payer's") bank account designated by the payer and pay those funds into a bank account designated by the payee. Before the payer's banker will allow the transaction to take place, the payer must have advised the bank that he or she has authorized the payee to directly draw the funds. It is also called pre-authorized debit (PAD) or pre-authorized payment (PAP).
Posts about Direct Debit
  • Insurance sites need to work on their checkout processes

    … details. The price is clearly highlighted at the top of the screen, and there is a bold red CTA, though this does blend in slightly with the rest of the colour scheme. Aviva From the outset Aviva’s application offers an excellent UX in terms of form design. It’s built using responsive design so all the buttons and text fields are huge to account…

    David Moth/ Econsultancyin Google- 5 readers -
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