Pre-authorized Debit
Definition
- Monthly payments that are automatically taken from a person's account with approval or authorization from that person.
Notes
A PAD Agreement allows a payee to direct debit the bank account of a payor.
Acronyms
PAD
Definition
- Monthly payments that are automatically taken from a person's account with approval or authorization from that person.
Notes
A PAD Agreement allows a payee to direct debit the bank account of a payor.
Acronyms
PAD