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Electronic cheque payment system
Aug
15
2010
I am using traditional cheque payment system ,how i can use electronic cheque payment system ?
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Answer #1
Electronic cheque payment system is possible mostly in cases like paying EMI ie paying for a Car Loan, House Loan, Student Loan etc where in your total loan amount is calculated along with interested calculated at a monthly amount to be paid. In this case you will have to authorize your Bank Account to be automatically debited.
In case you would like to many any payments online then its done through EFT service ie Electronic Funds Transfer.
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