Super Finance Glossary
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Searched for Preauthorized electronic debits
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Preauthorized Electronic Debits (PAD)
Definition: Debits to a bank account in advance by the payer. The payer's bank sends payment to the payee's bank through the Automated Clearing House (ACH) system.
Definition: Debits to a bank account in advance by the payer. The payer's bank sends payment to the payee's bank through the Automated Clearing House (ACH) system.
