Preauthorized checks (PACs)

Checks that are authorized by the payer in advance and are written either by the payee or by the payee's bank and then deposited in the payee's bank account.

Similar financial terms

Preauthorized electronic debits (PADs)
Debits to its bank account in advance by the payer. The payer's bank sends payment to the payee's bank through the _ACH)Automated Clearing House (ACH) system.

APACS
Association for Payment Clearing Services

Termbox
Digg the financial term Digg it!
Share financial term on facebook! Share on Facebook
Add to Yahoo My Web Add to Yahoo!
Add to Google bookmarks! Add to Google
Add financial term to del.icio.us Add to del.icio.us
Add financial term to Reddit! Add to Reddit
Add financial term on Spurl Add to Spurl
Add financial term to Furl Add to Furl
E-mail term to a friend! E-mail term to friend!
Printer friendly version Printer friendly version


Did you know?

Simple linear trend model

An extrapolative statistical model that asserts that earnings have a base level and grow at a constant amount each period.


Popular terms


About us  About bizterms.net
Contact us  Contact us
Bookmark us