The authority given to a bank to make regular payments on...
The authority given to a bank to make regular payments on behalf of a customer is
credit transfer
bank endorsement
standing order
bank overdraft
Correct answer is C
A standing order is an instruction given to a bank by an account holder, to make periodic payments to a named payee on a specific date. The bank makes the payment on behalf of the drawer (account holder). Here, the bank is referred to as the drawee.
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