I've encountered the term DDR in a financial context and I'm wondering what it stands for. I'm trying to understand its meaning in relation to money or financial transactions.
6 answers
Eleonora
Sat Nov 16 2024
This process is usually set up for recurring payments such as utility bills, gym memberships, or subscriptions.
MountFujiMystic
Sat Nov 16 2024
DDR stands for Direct Debit.
Silvia
Sat Nov 16 2024
It is a method of payment where a customer authorizes a company to collect a fixed or variable amount of money from their bank account.
BlockchainLegend
Fri Nov 15 2024
DR, on the other hand, represents a debit balance.
Giuseppe
Fri Nov 15 2024
This term is used when an account holder has overdrawn their account, meaning they have spent more money than they have in their account.