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.

    Learn More

  • Settlement Date

    The date an exchange of funds will be reflected on the books of the Federal Reserve Bank.

    Learn More