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direct debit |
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direct debit n
(Economics, Accounting & Finance / Banking & Finance) an order given to a bank or building society by a holder of an account, instructing it to pay to a specified person or organization any sum demanded by that person or organization Compare standing order Translations How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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For new direct debit installment agreements, when payments are deducted directly from a taxpayer's bank account, the fee increases from $43 to $52. Electronic payments consist of such payment methods as credit cards, debit cards, and automated clearinghouse (ACH) transactions, for example, direct debit. The mechanism is one millions of Americans use to pay their mortgage and other monthly bills without writing checks - direct debit payments, also known as demand drafts. |
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