Super Finance Glossary
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Searched for Preauthorized checks
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Preauthorized Checks (PAC)
Definition: Checks that are authorized by a payer in advance, and written either by the payee or by the payee's bank and then deposited in the payee's bank account.
Definition: Checks that are authorized by a payer in advance, and written either by the payee or by the payee's bank and then deposited in the payee's bank account.