Debit Authorization Example: Fill & Download for Free

Cheque is a debit authority to debit the account of a customer with certain amount and to remit the amount through NEFT/RTGS or any other way, is appropriation of the same as per instructions of the depositor. There can be “ N” number of credit entries on the basis of a single cheque. I can clarify the point by giving an example , suppose you have a current account of a Company and the Company intends to disburse salary to its ten number of employees. In this case the company will issue one cheque of consolidated amount and will provide a list of employees with their account numbers wherein the amount is to be credited. The accounts of the employees can be in your bank or in any other Bank . We as a Banker have to remit the amount as per the instructions of the depositor . Now it is clear that more than one credit can be afforded on the basis of single cheque and separate cheques are not required for every credit/NEFT/RTGS.

The question is unclear because it does not state the method of transfer and also does not state whether the receiver and sender are not only separate persons but have no shared accounts. For example, my daughter and I have a shared account (joint account). I have my own account independent of hers. Whenever she needs money, I simply transfer money from my independent account to our joint account. In fact, all of the money in the joint account is hers, entirely and always. But it is a convenience and it costs me nothing -- per transaction or per month.But, let's say that you wanted to transfer money to some stranger on eBay or whatever. You can write the person or business a paper cheque that he or she or it can convert into an e-cheque. My electricity company in Florida (FPL) used to do this routinely. There was no charge to me or to FPL for this service. You can use Bill Pay (or whatever the bank calls it). This is an electronic transfer of funds FROM your account into some other account -- such as your car payment or your life-insurance or whatever. This is 100% different from a debit authorization where the company goes INTO your account to take your money from you, over an indefinite period, even after you die.There are many other ways but I hope this information is useful to you.

The most important property of Bitcoin is that it is decentralised i.e. no country owns bitcoin or its growth.Although, government sanctions in a particular country regarding cryptocurrency can lead to shaky markets.But that is of no concern in the long run because of the limited quantity (21 million) of bitcoins and its increasing demand; and also because of the state of the art technology (blockchain) behind the bitcoins.So you can invest in Bitcoin being in any part of the world.If you don't have a local exchange,you can use credit,debit card of an international bank present in your country to make payments for purchases you make on abroad exchanges.Although,you should check the guidelines of your government.If they impose an embargo,then you ought to be careful while dealing with it as it can lead to legal actions against you by authorities. Example: The recent announcement by a local exchange of China to close down due to government sanctions.If you go ahead to invest,make sure you read properly how to protect your Bitcoins.Aspects like offline wallets etc. should be well explored.