Preauthorized Electronic Debits (PAD)
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.