meaning of automatic bill payment

automatic bill payment meaning in Law Dictionary

whenever a bill is paid straight from a merchant account through a digital transfer. This needs to be authorized. The vendor must distribute a request. It can be stopped whenever you want.

automatic bill payment meaning in Business Dictionary

an automatic procedure that pays expenses directly from a banking or brokerage account through an electronic repayment system. Usually, someone will approve repayments to certain vendors on a regular basis. Providers will submit requests for repayment right to the financial institution. An individual may end or wait automatic repayments whenever you want.