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Recurring means occurring repeatedly and can refer to several different things: Mathematics and finance. Recurring expense, an ongoing (continual) expenditure;
A recurring deposit is a special kind of term deposit in India that is offered by Indian banks and India Post which helps people with regular incomes to deposit a fixed amount every month into their recurring deposit account and earn interest at the rate applicable to fixed deposits. [1] [2]
It has banned standing / banker's orders, along with direct debit and any type of recurring payments between bank accounts. Instead, it permits transfer of funds only via its own “Interac e-Transfer”, an electronic transfer system similar to a cheque, which may be sent manually to a recipient's email or phone number.
Recurring transfers like quarterly insurance payments, [and] other accounts that are linked to your account, like online shopping sites, I mean, anything that is in your bank account,” Cruze said.
The term is usually used in relation with periodically-recurring payments such as rent, bills, royalties (or other contractual payments), and child support. Payment in arrear is a payment made after a service has been provided, as distinct from in advance, which are payments made at the start of a period. [2]
Billogram, which has built a platform for third parties to build and handle any kind of recurring payments (not one-off purchases), has closed a round of $45 million.
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