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

    …, such asutilities, banking or insurance. By coincidence, I’m in need of a new contents insurance policy so thought I’d murder two birds with one stone by reviewing the checkouts as I shopped around for quotes. The criteria used by Econsultancy editor Graham Charlton are as follows. They’ll need to be modified slightly: Speed. Slow loading times…

    David Moth/ Econsultancyin Google- 6 readers -
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