Elektronisches Lastschriftverfahren
Encyclopedia
Elektronisches Lastschriftverfahren (also known as Lastschrift, Bankeinzug or simply ELV) is a form of direct debit
transaction that is popular in Germany
. It is only used in Germany.
Direct debit
A direct debit or direct withdrawal is an instruction that a bank account holder gives to his or her bank to collect an amount directly from another account. It is similar to a direct deposit but initiated by the beneficiary...
transaction that is popular in Germany
Germany
Germany , officially the Federal Republic of Germany , is a federal parliamentary republic in Europe. The country consists of 16 states while the capital and largest city is Berlin. Germany covers an area of 357,021 km2 and has a largely temperate seasonal climate...
. It is only used in Germany.