direct debit payment

  

Definition

Type of preauthorized payment under which an account holder authorizes a bank to pay a fixed amount (such as mortgage payment or rent) or variable amounts (such as those called for in bills or invoices) directly to a landlord, bank, supplier or utility company at regular (usually monthly) intervals. See also standing order.

Use this term in a sentence

Related Videos




http://www.businessdictionary.com/definition/direct-debit-payment.html

Have a question about this term? Ask for help in the
Community
advertise here

Browse by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z