Debit transfer system: Difference between revisions
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imported>Doug Williamson m (Spacing and numbering) |
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''Funds transfer.'' | ''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. | 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. | Also known as Debit collection system. | ||
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* [[Credit transfer]] | * [[Credit transfer]] | ||
* [[Credit transfer system]] | * [[Credit transfer system]] | ||
Revision as of 15:20, 5 August 2013
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.
