Glossary

Debit Account

Is an account with a Bank or Payment Institution, which allows Customer to store funds and transact with them. 

How does Debit Account work?

In order to use a Debit Account, Customer’s funds must be placed in the Debit Account. While transacting by means of using a Debit Account, a Customer directly utilises his/her funds which are stored with the Bank or Payment Institution.

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