Advertising

Preauthorized check

• Abbreviated 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.

• Abbreviated PAC. A check written by the payee against a customer's checking account for a previously agreed-upon amount. Because of prior legal authorization, the check does not require the customer's signature.

 
 Embedded terms in definition
 Pac
Payer
 
 Related Terms
 Depository transfer check
Preauthorized electronic debits
Treasurer's check

<< Pre trade benchmarks Preauthorized electronic debits >>

Managing Your Expenses on a Fixed or Reduced Income: Once you've retired, you finally have the opportunity to work at your dream job - keeping yourself happy. It's your chance to visit places you've always wanted to see, take up a new hobby and spend more time with your family and friends. But to be successful at this new position, you've got to make the most of your income and investments. Here are suggestions. More...

No matter what you've done for yourself or for humanity, if you can't look back on having given love and attention to your own family, what have you really accomplished? Elbert Hubbard

Advertising



Copyright 2009-2019 GVC. All rights reserved.