Debit transfer system: Difference between revisions
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Revision as of 14:19, 23 October 2012
Funds transfer. A funds transfer system in which debit collection orders made or authorised by the payor move from the bank of the payee to the bank of the payor and result in a charge (debit) to the account of the payor; for example cheque-based systems are typical debit transfer systems.
Also known as Debit collection system.
See also