0
A gray screen transaction relates to the old style Nostro Banking prior to the very good SWIFT service, however the term has been highjacked by gray market financial brokers (non-licenced) and often used by fraudsters in a bank guarantee transaction or scam. The claim is that under a specific code bank or financial instruments can be assessed and downloaded against cash or a credit line, allowing very high amounts to be transacted for 10 to 20% of the face value with major banks. While such things exist, they are neither secret nor are they risk free as projected and the old saying : you get what you pay for! really applies. the details are not murky and infact a good internationally versed financial lawyer should be able to explain. These transactions are not for retail banking but institutional banking. When advertised through non licensed entities they are usually part of an laborate scam. Often combined with variations of "roll programs, bank guarantee or mtn programs or trading" in short all the advance fee scams the various agencies are warning about.
The existing variants are currently under scrunity for compliance and Basel III adjustments in bank handling.
Wiki User
∙ 10y ago
Add your answer:
Earn +20 pts
Difference between value date and transaction date in banking?
value date means ordinary date . transaction date means banking date.
What is Payee in banking transaction?
A payee is a person who will receive the funds.
What clearing check means in banking?
Clearing a cheque , means the time it takes to verify funds involved in the transaction.
Which part of the Standard toolbar from the SAP Easy Access screen allows you to open a transaction by typing the transaction code and then pressing Enter?
Command Field
What are the basic banking ACH rules?
There are several basic banking ACH rules. ACH is Automated Clearing House. One rule with ACH is that no financial company can make a transaction without the owner knowing that it is happening.
What are GREY screens in banking?
The grey screen transaction is actually called inter bank grey screen transaction. A gray screen transaction relates to the old style Nostro Banking.
What bank do grey screen transaction?
Waht is a international banks do grey screen transaction?
Is grey screen transaction legal?
YES
What international banks do grey screen transactions?
Waht is a international banks do grey screen transaction?
What is a bank green screen transaction?
There appears to be no green screen in banking transactions. A blue screen in banking is a method of choosing details of trade.
What is Business Banking?
business banking is one of the emerging technical transaction of making paper business through banking transaction
What does INET on a bank statement mean?
Transaction via internet Banking
What is transaction and core banking?
all transaction made one single window called core banking
How do you save paper in banking transaction?
By using paperless, no queue internet banking
Difference between value date and transaction date in banking?
value date means ordinary date . transaction date means banking date.
What is a blue screen transaction in banking?
Blue screen is a method of closing trade deals such as commodities. In this business, lots of people try to use your banking information and purchase the item you want or obtain a line of credit. Blue screen allows the buyer and the seller to view the other's information. The seller shows his proof of the item (which is usually worth a lot of money and secured in a bank) while the buyer shows his proof of money. It is just a more secure way to gather this information with blue screen. A log in and pin number is needed to complete this transaction.
What is Payee in banking transaction?
A payee is a person who will receive the funds.
