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What are the risks in using the electronic fund transfer service?
Wiki User
∙ 15y ago
The main risks associated with electronic funds transfer are:
1. You cannot confirm if the account number you have provided is correct. The bank would process the EFT under the belief that the information you provided is accurate.
2. Once an amount is transferred, the bank cannot and will not reverse a transaction.
Wiki User
∙ 15y ago
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What is NEFT code?
NEFT stands for National Electronic Funds Transfer. It is an electronic funds transfer service that is available for the citizens of India to transfer funds electronically from one bank to another. All banks have a unique NEFT code using which the bank name and the branch can be identified. Whenever you initiate a funds transfer request using NEFT, the NEFT code of the bank which is supposed to receive the funds is mandatory.
What is ledger transfer compare to wire transfer?
A Ledger transfer is usually internal to a bank or amongst banks (for example the central bank and a commercial bank). A wire transfer is the electronic moving of money, using essentially the principle of a ledger transfer, but applied more globally and broadly.
What is offered on the Bank of America online service?
Bank of America has an online service that allows its customers to take care of their banking needs. Customers can check the balance on an account or transfer money from one account to another. They can also apply for a loan or pay their bills using this service.
How would you explain postal remittance services?
Its simple a money transfer service using the postal network. The postal network various countries is one of the few institutions that is allowed to handle money transfer services without requiring a specific money transfer or money transmitter license. Its earlier mandate of being a postal service had money transfer as part of the ancillary services a post office would offer. In short, think of it as a Western Union, but via your Post Office.
How do you transfer the money through neft?
NEFT stands for National Electronic Funds Transfer. It is an electronic funds transfer scheme in India using which customers can transfer money from one bank account to another. It is initiated through internet banking. Below are the steps:logon to internet banking with your credentialsselect the account to which you wish to transfer funds (If it is a new account you would have to register the same before you can use it)enter the amount you wish to transferchoose if you want to do the transfer immediately or at a future dateEnter your secret pin/password to complete the transactions.NEFT transactions usually are received in 1 or at max 2 working days in the receiver's bank account.Note: Banks do not accept NEFT transactions on National/Banking holidays and Sundays
What is NEFT code?
NEFT stands for National Electronic Funds Transfer. It is an electronic funds transfer service that is available for the citizens of India to transfer funds electronically from one bank to another. All banks have a unique NEFT code using which the bank name and the branch can be identified. Whenever you initiate a funds transfer request using NEFT, the NEFT code of the bank which is supposed to receive the funds is mandatory.
What are the dangers and security risks of using electronic medical records?
All electronic records have some security risks. However they also allow doctors to share information that saves time, lives and money so the trade off is in their favor.
Transfer boa gear across servers?
This is not possible at the moment. The only way to do it is to transfer a character using the paid character transfer service.
Can you engage your 4x4 by not using the electronic push button?
No. The buttons operate the shift motor on the transfer case. The only way would be to swap in a manual transfer case.
What are the risks for using Bosley?
Tissue scarring and possible infection. This is because the procedure transfer whole sections of scalp instead of individual hairs.
What is ledger transfer compare to wire transfer?
A Ledger transfer is usually internal to a bank or amongst banks (for example the central bank and a commercial bank). A wire transfer is the electronic moving of money, using essentially the principle of a ledger transfer, but applied more globally and broadly.
How muct time does it take to transfer money from YES bank to ICICI bank?
It depends on how you transfer the money. If you are using NEFT (National Electronic Funds Transfer) it will usually take one business day and if you are using RTGS (Real Time Gross Settlement) it will take usually one to two hours.
What type of software program is Panic's Transmit?
Transmit by Panic is a software for fast transfer of electronic data. Transfers can be done using FTP, SFTP, WebDav, or Amazon cloud server. Transmit has a side-by-side graphic interface that provides a convenient visual platform for transfer of electronic files.
How long will it take to pay 1 million people 3.000 dollars a month?
Providing the funds are available it can be done in seconds using electronic transfer.
What are the advantages of using a electronic diary?
What are all the advantages and disadvantages of using an electronic dairy?
What are the risks of using oil as fuel?
Acid rain and global warming are the man two risks using oil as fuel.
How do people get money in Poland?
Well, I suppose they would have to work or maybe you can send it to them... I send money back to Poland using a money transfer service called - Now Transfer. You can see this at www.nowtransfer.com
