|
We offer you free information on money movement as well as account-to-account transfer.
Money Movement
Money movement enables financial institutions to leverage payment innovations in order to attract online customers, reduce processing costs and generate revenue streams. We offer a cost effective mechanisms for attracting and servicing customers. This money movement:
- Reduces operating costs by promoting migration to transaction channels and lowers cost online servicing
- Increases account usage by adding many payment options
- Enhances competitive positioning
- Generates revenue streams with high margin online transaction services
We provide a complete set of online payment options to the retail and online customers. We also offer risk management control that leverages your unique risk management experience.
Account to Account Transfer
The account-to-account transfer enables the opening of new accounts within a financial institution and allows the addition of money incrementally to existing accounts from either the internal accounts or external accounts. Account-to-account transfer also enables outbound transfers to known third parties. Our account-to-account transfer can be delivered with expansive, flexible and adaptive capabilities.
Risk management capabilities exist through the following:
- Ability to validate fund balances before executing a transfer
- Transfer limits can be set by transfer type.
- Complete fee management system that has the ability to control customers' fees for fund transfers.
- Instant account verification for enabled accounts.
- Fund transfer capabilities also take place through the Internet. These capabilities include same day transfers and delayed settlements.
Remember the following while transferring money:
- Select the account
- Amount of the transfer
- Transfer type
- Frequency
The account-to-account transfer application necessitates the following disclosure:
- Access code: You will have access to all accounts by means of a personal access code. Do not make this access code available to people who are not authorized to transact business on this account. If the access code is shared with other people, it means they have electronic access to the account; thereby authorizing them to process transactions. It is prudent to change the access code periodically.
- Member liability for unauthorized access: Members will accept all responsibility for all transfers authorized under this agreement. Contact the bank immediately if someone has used the access code and accessed the accounts without the members' authorization.
Following are the three ways to transfer accounts:
- Direct transfer takes 2-3 business days.
- Full account transfer takes 6-10 business days.
- Partial account transfer may take 3-4 weeks from the date paperwork has been received. Completion of account transfer also depends on the response time of your broker.
Back to Top |
