Payments are disbursed to recipients through direct deposit to bank accounts.
It is similar to a direct deposit but initiated by the beneficiary.
Card users can also opt to have their payroll transferred directly to the card through direct deposit and the card acting as their checking account.
Conveniences such as direct deposit can save companies and consumers money, though this may or may not be passed along to the consumer.
A direct debit instruction differs from a direct deposit and standing order instruction, which are initiated by the payer.
Programs such as direct deposit for military payrolls and better human relations are prime examples.
Holds originate from cheque deposits waiting to clear, notice of returns, notice of collection, debit card purchases or direct deposit.
A standing order involves fixed payment amounts paid periodically, while a direct deposit can be of any amount and can be casual or periodic.
