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Automatic Bill Payment |
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Automatic Bill Payment A service in which a bank allows an account holder to pay personal bills by transferring funds out of an account with an order made over the telephone. Automatic bill payment originated with savings and loan associations, which allowed customers to make these transfers out of savings accounts at a time when they were not allowed to offer checking accounts. See also: Electronic Funds Transfer. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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