Direct debit payment

Direct debit payment,

Definition of Direct debit payment:

  1. Type of preauthorized payment under which an account holder authorizes a bank to pay a fixed amount (such as mortgage payment or rent) or variable amounts (such as those called for in bills or invoices) directly to a landlord, bank, supplier or utility company at regular (usually monthly) intervals. See also standing order.

Meaning of Direct debit payment & Direct debit payment Definition