"Preauthorized electronic debits (PADs)" Definition
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 Glossary   >   P   >   "Preauthorized electronic debits (PADs)" Definition   

        Preauthorized electronic debits (PADs)

Debits to its bank account in advance by the payer. The payers bank sends payment to the payees bank through the Automated Clearing House (A.C.H.) system.

Preauthorized electronic debits (PADs)


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Preauthorized electronic debits (PADs) - Debits to its bank account in advance by the payer. The payers bank sends payment to the payees bank through the Automated Clearing House (A.C.H.) system.


Preauthorized electronic debits (PADs) : debits to its bank account in advance by the payer. the payers bank sends payment to the payees bank through the automated clearing house (a.c.h.) system.