Essay specific features
April 17, 2016
No of pages / words:
4 / 948
Rating of current essay:
Their main advantage is that pre-authorisation means they are made electronically.
While declining in importance, cheques are paper-based instructions to a depositor’s ADI to pay funds to settle a transaction (or to effect a withdrawal). They can be used only where the depositor has a cheque account...
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They can be used only where the depositor has a cheque account. Their main advantage is that the depositor can make a record of the instruction.
Debit cards allow their holder to settle transactions via EFTPOS machines that draw on funds in the depositor’s ADI account and to withdraw funds from ATMs...
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