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direct debit |
Also found in: Acronyms, Wikipedia | 0.03 sec. |
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direct debit Noun an order given to a bank or other financial institution by an account holder to pay an amount of money from the account to a specified person or company at regular intervals
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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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