Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 3 - No. 19)
What does it mean for a business to use a 'direct debit' payment method?
The person or organization being paid will specify the amounts to be paid and when each payment is required.
The person or organization paying will specify the amounts to be paid and when each payment is required.
A payment card is used to make a one-off, often email transfers without the need for prior instructions.
Money is sent to the bank account of a named individual or organization on a specified date.
Explanation
Direct debits allow the person or organization being paid to specify payment details.
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