preauthorized electronic debits
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Preauthorized electronic debits (PADs) — Debits to its bank account in advance by the payer. The payer s bank sends payment to the payee s bank through the ACH)Automated Clearing House ( ACH) system. The New York Times Financial Glossary … Financial and business terms
PAD — See: preauthorized electronic debits * * * pad pad [pæd] noun [countable] OFFICE several sheets of paper fastened together, used for making notes: • Always have a pad and pen next to your telephone. legal pad a pad of yellow paper with … Financial and business terms
Overdraft — I warn you, Sir! The discourtesy of this bank is beyond all limits. One word more and I I withdraw my overdraft! Cartoon from Punch Magazine Vol. 152, June 27, 1917 An overdraft occurs when money is withdrawn from a bank account and the… … Wikipedia
Bank — For other uses, see Bank (disambiguation). Banker and Bankers redirect here. For other uses, see Banker (disambiguation). Banking … Wikipedia
