Title: Payment instruments
|Date:||November 9, 2016|
|Length:||4 / 948|
|No of views:||0|
|Essay rating:||good 0, average 0, bad 0 (total score: 0)|
Their main advantage is that pre-authorisation means they are made electronically.
While declining in importance, cheques are paper-based instructions to a depositor’s ADI to pay funds to settle a transaction (or to effect a withdrawal). They can be used only where the depositor has a cheque account...
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They can be used only where the depositor has a cheque account. Their main advantage is that the depositor can make a record of the instruction.
Debit cards allow their holder to settle transactions via EFTPOS machines that draw on funds in the depositor’s ADI account and to withdraw funds from ATMs...
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