Direct debit: Difference between revisions
From ACT Wiki
Jump to navigationJump to search
imported>Doug Williamson (Clarify that the payee is the beneficiary.) |
imported>Doug Williamson (Add abbreviation.) |
||
| (4 intermediate revisions by the same user not shown) | |||
| Line 1: | Line 1: | ||
A pre-authorised debit on the payor’s bank account initiated by the payee ( | (DD). | ||
A pre-authorised debit on the payor’s bank account initiated by the payee (beneficiary). | |||
Direct debits are direct bank-to-bank transactions. | |||
| Line 7: | Line 11: | ||
* [[Standing order]] | * [[Standing order]] | ||
* [[Payments and payment systems]] | * [[Payments and payment systems]] | ||
* [[Request to Pay]] | |||
[[Category:Cash_management]] | |||
Latest revision as of 14:49, 27 April 2022
(DD).
A pre-authorised debit on the payor’s bank account initiated by the payee (beneficiary).
Direct debits are direct bank-to-bank transactions.
