• 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.
Practical Advice for Everyone on How to Save and Manage Money: No matter how old or young you are, there are some basic things you can do to better manage and protect your money. Here are recommendations from FDIC Consumer News. More...
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