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What is a “PAD” account?

April 26, 2017account pad

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What is a “PAD” account?

1 Answer

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10 Posted

“PAD” stands for Prepaid Account Deposit. Customers who make many transactions with the Secretary of State may deposit money in a “lock box” account from which transaction fees may be deducted. Refunds may immediately be electronically deposited to the PAD without wait. PADs reduce administrative costs for the agency and provide convenience to customers who avoid delays and the expense of remitting payments.