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A direct debit or direct withdrawal is a financial transaction in which one organisation withdraws funds from a payer's bank account.
An automated clearing house ( ACH) is a computer-based electronic network for processing transactions, [1] usually domestic low value payments, between participating financial institutions. It may support both credit transfers and direct debits.
Direct debit. A direct debit is an instruction from a customer to a bank (or building society) to authorize a third party to collect an amount from an account, often for regular payments. Over 4.5 billion direct debits were processed in 2019. Bacs Direct Credit
A payment system is an operational network which links bank accounts and provides for monetary exchange using bank deposits. Some payment systems also include credit mechanisms, which are essentially a different aspect of payment.
Electronic funds transfer (EFT) is the electronic transfer of money from one bank account to another, either within a single financial institution or across multiple institutions, via computer-based systems, without the direct intervention of bank staff.
Use this guide to get the info you need about AOL billing, including how to update your method of payment, how to view your bill and how to contact AOL if you have questions about your account.
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