while debit-based (“debit pull”) instruments are submitted for
processing by the payee.
The main credit-based instruments are credit transfers
(also called “direct credits” or “wire transfers”). The main debit-based payment
instruments are direct debits, card payments and cheques. As can be seen from
Chart 2, in a credit-based transfer the instruction and funds move in the same
direction, whereas in a debit-based transfer they move in opposite directions.