PREAUTHORIZED CHECKS (P.A.C.S)


Meaning of PREAUTHORIZED CHECKS (P.A.C.S) in English

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.

Campbell R. Harvey. Hypertextual finance English glossary.      Английский словарь гипертекстовых финансов.