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 Credit

    An ACH credit occurs when the receiver’s account is credited.

    Learn More

  • EFTA (Electronic Fund Transfer Act)

    The Electronic Fund Transfer Act establishes the rights and liabilities of consumers in addition to the responsibilities of anyone who participates in electronic funds transfers.

    Learn More