What Is Direct Debit Insurance?

The direct debit transfer settlement algorithm is one of the settlement methods in the same city. The payer uses the automatic clearing house to debit the funds directly to the payee's account to achieve the settlement of funds. The specific method is as follows: first, the payer pre-authorizes its account bank to pay certain payees from his account; then, the payee records the payee's bank number, account number, and receivable amount Send it to your bank account on tape. ^[1]