Provide online banking and provide online automatic payment service are Assets management firm. Invest people's fund in securities and accept tax return refund are commercial banks.
What is automatic payment service?
A payment that is automatically delivered to one of your billers from the bank account or credit card account is, in essence, what it sounds like. Using the debit card, credit card, checking account, savings account, or money market account, a person can approve an automatic bill payment.
With bill pay, a person begin the payment, whereas with auto pay, the seller initiates the charge to your credit or debit card. This is the primary distinction between the two payment methods. Another distinction is that with auto pay, you give the merchant permission to repeatedly charge your card.
Thus, the statements are matched accordingly above.
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