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Shared Network

 
Banking Dictionary: Shared Network

Electronic banking system, such as an Automated Teller Machine network, that is open to customers of any financial institution in a geographic region. Distinguish from Proprietary Network. Sharing rules, to comply with the Justice Department's guidelines on EFT joint ventures, must allow participation by any financial institution wishing to join.

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Banking Dictionary. Dictionary of Banking Terms. Copyright © 2006 by Barron's Educational Series, Inc. All rights reserved.  Read more