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Disbursement
The release of funds from an account for the purpose of making a payment or meeting a financial obligation.
More Details
A disbursement is the act of paying out or distributing money, often from an organization or a financial institution. Disbursements can be made in various forms, such as cash, checks, or electronic transfers.
Example
Your employer makes electronic disbursements to your bank account in the form of direct deposited paychecks.
Related Terms
Club Account
A type of savings account that is managed by a group of individuals for the purpose of saving money for a specific goal or event.
Billing Error
A mistake on a billing statement or invoice. This could include incorrect charges, duplicate charges, or charges for services not provided.
Apple Pay
A mobile payment and digital wallet service that allows users to make payments using their Apple device.