Payment instruments

Essay specific features

 

Issue:

Business

 

Written by:

Claude E

 

Date added:

April 17, 2016

 

Level:

University

 

Grade:

A

 

No of pages / words:

4 / 948

 

Was viewed:

8210 times

 

Rating of current essay:

 
Essay content:

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...
displayed 300 characters

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