- preauthorized check
- A process by which the issuer of a check gives written permission to have the check written and charged against his or her account on a predetermined basis. American Banker Glossary
Financial and business terms. 2012.
Financial and business terms. 2012.
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 Cartoon from Punch Magazine Vol. 152, June 27, 1917 An overdraft occurs when money is withdrawn from a bank account and the… … Wikipedia
Demand draft — A demand draft A demand draft, also known as a remotely created check, a tele check, or check by phone, check by fax or echeck, is a check created by a merchant with a buyer s checking account number on it, but without the buyer s original… … Wikipedia
Automated Clearing House — (ACH) is the name of an electronic network for financial transactions in the United States. ACH processes large volumes of both credit and debit transactions which are originated in batches. Rules and regulations governing the ACH network are… … Wikipedia
Bank — For other uses, see Bank (disambiguation). Banker and Bankers redirect here. For other uses, see Banker (disambiguation). Banking … Wikipedia
Transaction deposit — In the United States transactions deposit is a term used by the Federal Reserve for checkable deposits and other accounts that can be used directly as cash without withdrawal limits or restrictions. They are the only bank deposits that require… … Wikipedia
Electronic Funds Transfer Act — The Electronic Funds Transfer (EFT) Act, also known as Regulation E, was implemented in the US in 1978 to establish the rights and liabilities of consumers as well as the responsibilities of all participants in EFT activities… … Wikipedia
Concord EFS, Inc. — Concord EFS, Inc. was a major corporation that provided ATM, credit card, debit card, and payroll processing services.[1] On February 26, 2004 Concord merged with First Data. A Brief History of ConcordEFS Concord EFS, Inc., based in Memphis,… … Wikipedia