Debits to its bank account in advance by the payer. The payer's bank sends payment to the payee's bank through the Automated Clearing House (A.C.H.) system.
PREAUTHORIZED ELECTRONIC DEBITS (P.A.D.S)
Meaning of PREAUTHORIZED ELECTRONIC DEBITS (P.A.D.S) in English
Campbell R. Harvey. Hypertextual finance English glossary. Английский словарь гипертекстовых финансов. 2012