| 摘要 |
<p>A system and method for extending a firm offer of credit (101) contingent upon receiving a one-time authorization to execute recurring automatic withdrawals from a deposit account (102) is provided. In providing the one-time authorization to execute recurring automatic withdrawals (102), a prospective borrower may elect from a plurality of automatic withdrawal repayment options (217). One such option is electronic fund transfer (114), such as the initiation of a withdrawal entry into the Automated Clearing House network (215). A second option is by the remote creation of a paper negotiable instrument (107), which is then converted into an electronic substitute check (607) capable of electronic routing (215). Upon receiving the one-time authorization, the lender (504) may make recurring automatic withdrawals from the borrower's deposit account (102).</p> |
