Direct deposit
Direct deposit also known as Direct credit is a banking term used to refer to certain payment system
Payment system
A payment system is a system used for transferring money. What makes it a "system" is that it employs cash-substitutes; traditional payment systems are negotiable instruments such as drafts and documentary credits such as letter of credits. With the advent of computers and electronic...

s used to transfer money where a payment is initiated by the payer not the payee, namely:
  • In Europe, the giro
    A Giro or giro transfer is a payment transfer from one bank account to another bank account and instigated by the payer, not the payee...

  • In the United States, the Automated Clearing House
    Automated Clearing House
    Automated Clearing House is an electronic network for financial transactions in the United States. ACH processes large volumes of credit and debit transactions in batches. ACH credit transfers include direct deposit payroll and vendor payments. ACH direct debit transfers include consumer payments...

  • In Australia, Direct Debit and Direct Deposit are performed through the Direct Entry network.
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