The bank receives a payment order instructing the bank to pay Creditor X. The bank executes the order in reliance on there being sufficient withdrawable funds in the customer's account to cover the order.
Source: wiktionary
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The bank receives a payment order instructing the bank to pay Creditor X. The bank executes the order in reliance on there being sufficient withdrawable funds in the customer's account to cover the order.
Source: wiktionary