credit transfers

HideShow resource information
View mindmap
  • 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


No comments have yet been made

Similar Applied Business resources:

See all Applied Business resources »See all credit resources »