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A direct debit or direct withdrawal is a financial transaction in which one organisation withdraws funds from a payer's bank account. [1] Formally, the organisation that calls for the funds ("the payee") instructs their bank to collect (i.e., debit) an amount directly from another's ("the payer's") bank account designated by the payer and pay those funds into a bank account designated by the ...
HSBC Holdings plc (Chinese: 滙豐; initialism from its founding member The Hongkong and Shanghai Banking Corporation) is a British universal bank and financial services group headquartered in London, England, with historical and business links to East Asia and a multinational footprint.
Business customers of a UK Bank can send instructions in a very similar way to the way the older Bacstel-IP provided access to BACS. Direct corporate access payments only enables submission of files of payments, these are then split by the operator into individual payment instructions for processing through the FPS.
HSBC UK Bank plc is a British multinational banking and financial services organisation based in Birmingham, England.It is a wholly owned subsidiary of the global HSBC banking and financial group, which has been headquartered in London since 1993.
Standing orders are distinct from direct debits; both are methods of setting up repeated transfers of money from one account to another, but they operate in different ways. The fundamental difference is that standing orders send payments arranged by the payer, while direct debits are specified and collected by the payee. [4]
First Direct (styled first direct) is a telephone and internet based direct retail bank, which is division of HSBC UK Bank plc based in the United Kingdom. First Direct has headquarters in Leeds , England, and has 1.9 million customers. [ 1 ]
HSBC Bank USA, National Association, an American subsidiary of the British banking group HSBC, is a bank with its operational head office in New York City and its nominal head office in Tysons, Virginia (as designated on its charter).
NETS operates Singapore's national debit scheme enabling customers of DBS Bank, POSB, HSBC, Maybank, OCBC Bank, Standard Chartered Bank, CIMB and UOB to make payments using their physical/contactless ATM cards or mobile devices at more than 120,000 acceptance points in Singapore including major retailers, food courts, hawker centres, convenience stores and supermarkets.