A preauthorized electronic withdrawal for the payer's account is known as

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A preauthorized electronic withdrawal for the payer's account is commonly known as an automated clearinghouse (ACH) debit transfer. A depository transfer check is a paper check used to transfer funds between accounts at different banks. A wire transfer is an electronic transfer of funds from one bank to another, but it usually requires a specific request from the payer rather than being preauthorized.

A Preauthorized Electronic Withdrawal for the Payer's Account Is Known