A prefix meaning one hundredth (1/100). Example: 1/100th of a meter is called a centimeter (there are 100 centimeters in a meter).
EFT Debits (Normal Debit Orders) EFT Debits, previously known as Magtape debits or ACB, allows a business or organisation to debit the account of their client in order to fulfil the obligations of an underlying agreement.
What are eChecks? An e-Check is the electronic version of the standard paper check. These are sometimes called electronic checks, direct debit, or ACH transfer. E-checks are used to make payments online using only the info that would be contained on a âpaperâ check. Go HERE for a deeper explanation about what Echecks are.