PPD (Prearranged Payment and Deposit)

A credit or debit entry to the account of a receiver where there is either a standing or one time written authorization that has been signed or similarly authenticated.

Related Terms

  • ACH Debit

    An ACH debit occurs when the receiver’s account is debited.

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  • TILA (Truth in Lending Act)

    The Truth in Lending Act requires the full disclosure of finance charges and terms with regard to costs associated with borrowing.

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