Direct debit: Difference between revisions
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imported>Doug Williamson (Note that direct debits are direct bank-to-bank transactions. Source: ACMF specimen paper Q36.) |
imported>Doug Williamson (Add abbreviation.) |
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(DD). | |||
A pre-authorised debit on the payor’s bank account initiated by the payee (beneficiary). | A pre-authorised debit on the payor’s bank account initiated by the payee (beneficiary). | ||
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* [[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.
