credit transfers
- Created by: naomicsuter
- Created on: 28-03-16 15:31
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- Credit transfers
- Standing order
- same amount of money goes out monthly or weekly without contacting the bank each time
- customer is in charge, so they can change the amount or frequency of the payments
- customer can cancel the standing order without notice so the business will need to collect the funds another way
- very secure and cheap to operate
- transfers can be done online at the push of a button
- international payments in other currencies can be accepted
- repeat payments can be set up easier
- an easy way of refunding for goods or services
- if the account number has been written correctly, then it is difficult to get your money back
- aren't legally supposed to return your money
- details need to be set up correctly in the first place
- Standing order
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