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Telegraphic Transfer
Telegraphic Transfer or telex transfer, often abbreviated to TT, is a term used to refer to an electronic means of transferring funds. A transfer charge is often charged by the sending bank and in some cases by the receiving bank. Historically telegraphic transfer meant a cable message from one bank to another in order to effect the transfer of money. Prior to the existence of electronic payment networks this was often directly between banks via a telex message. Current use Hong Kong In Hong Kong, the term "telegraphic transfer" is synonymous to international SWIFT transfer. Japan In Japan, "telegraphic transfer" is the industry term for quoting retail exchange rates (larger quantities are quoted individually), and is divided into three rates, stated in yen, from the point of view of the quoting bank: * TTM: Telegraphic Transfer Middle rate (mid price) * TTS: Telegraphic Transfer Selling rate (ask price) * TTB: Telegraphic Transfer Buying rate (bid price) The middle rate ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Electronic Funds Transfer
Electronic funds transfer (EFT) is the electronic transfer of money from one bank account to another, either within a single financial institution or across multiple institutions, via computer-based systems, without the direct intervention of bank staff. According to the United States Electronic Fund Transfer Act of 1978 it is "a funds transfer initiated through an electronic terminal, telephone, computer (including on-line banking) or magnetic tape for the purpose of ordering, instructing, or authorizing a financial institution to debit or credit a consumer's account". EFT transactions are known by a number of names across countries and different payment systems. For example, in the United States, they may be referred to as "electronic checks" or "e-checks". In the United Kingdom, the term "bank transfer" and "bank payment" are used, in Canada, " e-transfer" is used, while in several other European countries " giro transfer" is the common term. Types EFTs include, but ar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wire Transfer
Wire transfer, bank transfer, or credit transfer, is a method of electronic funds transfer from one person or entity to another. A wire transfer can be made from one bank account to another bank account, or through a transfer of cash at a cash office. Different wire transfer systems and operators provide a variety of options relative to the immediacy and finality of settlement and the cost, value, and volume of transactions. Central bank wire transfer systems, such as the Federal Reserves Fedwire system in the United States, are more likely to be real-time gross settlement (RTGS) systems, as they provide the quickest availability of funds. This is because they post the gross (complete) entry against electronic accounts of the wire transfer system operator. Other systems, such as the Clearing House Interbank Payments System (CHIPS), provide net settlement on a periodic basis. More immediate settlement systems tend to process higher monetary value time-critical transactions, hav ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Single Euro Payments Area
The Single Euro Payments Area (SEPA) is a payment-integration initiative of the European Union for simplification of bank transfers denominated in euro. , there were 36 members in SEPA, consisting of the 27 member states of the European Union, the four member states of the European Free Trade Association (Iceland, Liechtenstein, Norway and Switzerland), and the United Kingdom. Some microstates participate in the technical schemes: Andorra, Monaco, San Marino, and Vatican City. SEPA covers predominantly normal bank transfers. Payment methods which have additional optional features or services, such as mobile phone or smart card payment systems, are not directly covered. However, the instant SEPA payment scheme facilitates payment products also on smart devices. Goals The aim of SEPA is to improve the efficiency of cross-border payments and turn the previously fragmented national markets for euro payments into a single domestic one. SEPA enables customers to make cashless eu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
SEPA Credit Transfer
SEPA may refer to: *The Single Euro Payments Area, a payment-integration initiative of the European Union *The Scottish Environment Protection Agency, Scotland’s environmental regulator and flood authority *State Environmental Protection Administration, former name of the Ministry of Environmental Protection of the People's Republic of China *The Seton Leather Company of Pennsylvania, an automotive leather company *Southeastern Pennsylvania, a region in the US state of Pennsylvania *The reporting mark of the Southeastern Pennsylvania Transportation Authority The Southeastern Pennsylvania Transportation Authority (SEPTA) is a regional public transportation authority that operates bus, rapid transit, commuter rail, light rail, and electric trolleybus services for nearly 4 million people in five coun ... Sepa may refer to: * Sepa language (other) ** Sepa language (Papua New Guinea), an Oceanic language of northeast New Guinea *A lake in 108 Mile Ranch, British Col ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Faster Payments Service
The Faster Payments Service (FPS) is a United Kingdom banking initiative to reduce payment times between different banks' customer accounts to typically a few seconds, from the three working days that transfers usually take using the long-established BACS system. CHAPS, which was introduced in 1984, provides a limited faster-than-BACS service (by close of business that day) for "high value" transactions, while FPS is focused on the much larger number of smaller payments, subject to limits set by the individual banks, with some allowing Faster Payments of up to £1million. Transfer time, while expected to be short, is not guaranteed, nor is it guaranteed that the receiving institution will immediately credit the payee's account. Nine banks and one building society, accounting for about 95% of payments traffic, initially committed to use the service; there were 21 direct participants. For smaller organisations such as building societies and savings institutions, the service is ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
CHAPS
Chaps ( or ) are sturdy coverings for the legs consisting of leggings and a belt. They are buckled on over trousers with the chaps' integrated belt, but unlike trousers, they have no seat (the term "assless chaps" is a tautology) and are not joined at the crotch. They are designed to provide protection for the legs and are usually made of leather or a leather-like material. Their name is a shortened version of the Spanish word ''chaparajos''. ''Chaparajos'' were named after the chaparral (thick, thorny, low brush) from which they were designed to protect the legs while riding on horseback. Like much of western American horse culture, the origin of ''chaparajos'' was in the south of Spain, from which it then passed on to the part of New Spain that later became Mexico, and has been assimilated into cowboy culture of the American west. They are a protective garment to be used when riding a horse through brushy terrain. In the modern world, they are worn for both practical work purpo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banking
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Kingdom
The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Europe, off the north-western coast of the continental mainland. It comprises England, Scotland, Wales and Northern Ireland. The United Kingdom includes the island of Great Britain, the north-eastern part of the island of Ireland, and many smaller islands within the British Isles. Northern Ireland shares a land border with the Republic of Ireland; otherwise, the United Kingdom is surrounded by the Atlantic Ocean, the North Sea, the English Channel, the Celtic Sea and the Irish Sea. The total area of the United Kingdom is , with an estimated 2020 population of more than 67 million people. The United Kingdom has evolved from a series of annexations, unions and separations of constituent countries over several hundred years. The Treaty of Union between the Kingdom of England (which included Wales, annexed in 1542) and the Kingdom of Scotland in 170 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Transfer
Wire transfer, bank transfer, or credit transfer, is a method of electronic funds transfer from one person or entity to another. A wire transfer can be made from one bank account to another bank account, or through a transfer of cash at a cash office. Different wire transfer systems and operators provide a variety of options relative to the immediacy and finality of settlement and the cost, value, and volume of transactions. Central bank wire transfer systems, such as the Federal Reserves Fedwire system in the United States, are more likely to be real-time gross settlement (RTGS) systems, as they provide the quickest availability of funds. This is because they post the gross (complete) entry against electronic accounts of the wire transfer system operator. Other systems, such as the Clearing House Interbank Payments System (CHIPS), provide net settlement on a periodic basis. More immediate settlement systems tend to process higher monetary value time-critical transactions, ha ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fund Transfers
Fund may refer to: * Funding is the act of providing resources, usually in form of money, or other values such as effort or time, for a project, a person, a business, or any other private or public institution ** The process of soliciting and gathering funds is known as fundraising * An investment fund, often referred to as a fund ** Hedge fund, an investment vehicle open only to investors who are qualified in some way ** Mutual fund, a specific type of investment fund which pools money from many investors to purchase securities ** Sovereign wealth fund, a state-owned investment fund * Fund accounting, nonprofit organizations and by the public sector *Meir Fund Meir Fund is an American Orthodox rabbi, Kabbalist, and spiritual leader of Congregation ''Sheves Achim, 1517 Avenue H,'' in Brooklyn, New York. He comes from a long line of rabbis in Europe and was close with both Rabbi Joseph Soloveitchik duri ..., American rabbi *FUND or FUND92, short names for the " International Conv ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cablegram
Telegraphy is the long-distance transmission of messages where the sender uses symbolic codes, known to the recipient, rather than a physical exchange of an object bearing the message. Thus flag semaphore is a method of telegraphy, whereas pigeon post is not. Ancient signalling systems, although sometimes quite extensive and sophisticated as in China, were generally not capable of transmitting arbitrary text messages. Possible messages were fixed and predetermined and such systems are thus not true telegraphs. The earliest true telegraph put into widespread use was the optical telegraph of Claude Chappe, invented in the late 18th century. The system was used extensively in France, and European nations occupied by France, during the Napoleonic era. The electric telegraph started to replace the optical telegraph in the mid-19th century. It was first taken up in Britain in the form of the Cooke and Wheatstone telegraph, initially used mostly as an aid to railway signalling. This ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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