The DRAWER on a cheque is the person the cheque is to be paid to.
A STANDING ORDER will allow an organisation to make regular payments of fixed amounts.
When a business makes payments to suppliers by CREDIT CARD the amount paid affects the businesses bank account immediately.
A CHEQUE paid into a building society has to pass through the clearing system.
Overdraft facilities are NOT usually offered by building societies
When taking telephone card payments you would check the expiry date on the card and the security number.
A cheque becomes out of date after 5 months.
A Direct Debit is collected from a customer account and the amounts can vary.
A Cheque is an example of an electronic payment method.
The CHAPS service would be appropriate for regular payments of small amounts.
