Question

What is the meaning of pre authorized payments?

Answer 1

Arrangement (such as direct debit payment or standing order) under which a bank is authorized by a customer to debit his or her account for a regular bill's amount or for loan installments.


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Answer 2

Arrangement (such as direct debit payment or standing order) under which a bank is authorized by a customer to debit his or her account for a regular bill's amount or for loan installments.