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.
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direct debit payment is in the Accounting & Auditing and Banking, Commerce & Finance subjects.
direct debit payment appears in the definitions of the following terms: automatic payments, preauthorized payment and standing order
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