debited

In order to operate this way, fintech companies often need a middleman between the fintech company and the bank that can do the bookkeeping necessary to make sure customer accounts are credited and debited correctly.

The cash helped her cover expenses until payday, when the app debited the borrowed $100, plus $18 for the fee and tip.

In a table, the draft report detailed hundreds of debited transactions entered by "non-branch users", who the report explained "can access branches remotely for support purposes".

The BBC's own investigation into this data has found that much of the table relates to transactions which were debited by Post Office auditors, who had been working on the day of, and the days after a sub-postmaster had been suspended.

Similar protection services are offered for ACH or transactions that are debited directly from a business bank account.