Quote:
Originally Posted by New Englander
I am closing on a home in TV in less than four weeks. I'm still trying to sell my place up north so I won't be living in TV for a while. Can somebody explain what the difference is between push and pull payments.
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Terms as used by the original poster (OP) ...
Quote:
Originally Posted by JourneyOfLife
... or have you opted to Push payments (electronic you control) or let the service provider Pull payments (electronic they control), or a mix of both? ...
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A "push" payment is where you are signing in to an online banking system and scheduling a payment to a payee, in the amount you choose, to be paid when you choose. It requires thought and action on your part.
A "pull" payment is where you are authorizing a payee to go into your bank account and take what they think you owe, when they think you owe it. You give control to the payee.