Financial Definitions - Automatic Distribution Service
An automatic distribution service is a system the banks use to manage data for external and internal customers. When you go to your bank and make a deposit or withdrawal using check(s) or cash, that information is then recorded, on paper, in digital via tap or database. The funds are then distributed accordingly. If you make a deposit to an account from a different bank the process of course takes longer. The speed of this kind money distribution is becoming faster as computer technology and databases improve.
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