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Banking

Banking is the process of engaging in the business of keeping money for savings and checking accounts, issuance of loans and credit, and the like. This is an industry that is strictly regulated by the government.

24,470 Questions

Which device is used to read cheques?

Many devices may scan the MICR line for various reasons. Before a check is negotiated at the bank the teller may run the check through a PPS machine to gauge the account validity. While, later on, it may be ran through a MICR line scanner which will tell if the MICR line is legitimate or has been altered for forged. Most likely of all, it will be scanned by a Image Capture machine and then be sent to the drawee bank for collection; made possible by the Check Processing for the 21st Century Act of 2003 (USA).

How did banking work before computers?

There were no ATMs (they didn't come out 'til the early 1980s). When you went to your bank to cash a check, the teller had to pull a microfiche copy of your signature for verification.

What should you do if your bank contacts you asking you to phone a number supplied in the email?

If in doubt, check the number by using telephone directory enquiries, look up their number on their website, or ring the bank direct if you know the branch telephone number, or even pay them a visit in person. It is usually okay to phone the number given in the email, but never click on links in the email. And never give any details if asked for your bank account number, and other details - the genuine bank should all ready know such details!

Should Theo click the link when he receives an email from his bank while at work that emphatically states he must verify his personal information immediately or his account will be closed?

This is one of the most common forms of Phishing. Luring customers to think that their account is closed and making them enter their account information in a fake site where they get registered and then these people will access your account using the details you provided and steal your money.

Beware!!! No bank would send such emails.

How do you trace money in excel?

You can use a formula with a plus sign or you could use a SUM function. It really depends on what it is that you want to do and things like how many values you want to add together. Both of the following formulas would do the same thing, which is to add values in 5 different cells:

=A2 + A3 + A4 + A5 + A6

=SUM(A2:A6)

Can you send money western union using PayPal?

Yes, and no. You cannot send money to Western Union from within your paypal account as Western Union does not accept paypal. This is actually called aggregation which technically may, or may not be legal depending on how the channels are organized because it can easily facilitate money laundering. Aside from that, if you have a paypal debit card then you can send money to Western Union since it acts like an actual credit card.

How do you close your Skype account?

The first thing to do is NOT to log in to your account any more and remove all details from your profile so when a search is done all it will display is your Skype name and the last time you were on line.

Next type %AppData% into either your browser address bar or windows explorer, press the ENTER key and this will show you all the Skype Usernames you have on your PC,

Then just delete the folder of the username you wish to remove.

Can you send money through western union from India?

Yes, Yes you can transfer money to and from the U.S from, and to India.

For security do not place cash in envelopes unless you pay a premium rate insurance as it is possible that this can be stolen.

When i cancel my order on amazon will i get my money back?

Yes they will charge you, but the price will vary depending on the price of the order. Because i cancelled buying a laptop once and they charged me £10! but then my friend said she cancelled a book and it only cost her like £3. xx

The Plumtree EDK NET Web Controls 3.1?

I would like to know what this Plumtree EDK.Net Web Controls 3.1 is and if I need to download it. I am having problems accessing my on line banking.

This is not an answer. It's a question!!!!!!

How does a bank Automatic Teller Machine work?

ATM (Automated Teller Machine) is a computer. It has a small display and something similar to a keyboard (even if it doesn't look like one). It runs a program that is usually written by the bank. The program could do anything but banks usually follow a pattern.

Most banks start by asking for the language. They then ask you to insert your card.

This card has a magnetic strip on the back that it reads information about your bank account (sort of like a diskette on a PC). It uses this information to look up your information and decide what to do next. Usually this is to have you enter your password. After that, it's up to the program to decide what to do next.

As for the equipment, banks usually buy the ATM as a single piece but it is actually made up of components. There are several different computer types but let's discuss this as if it were a PC. There would be several PCI slots. Each PCI slot would have a specialized card to support the equipment. One slot would be used for the modem (or network card) so it can be managed from the main office and can obtain information it needs from the central computer where most information is kept. Another slot would be for the card reader where you stick the ATM card in. The money dispenser would be another. I suspect that the deposit slot is part of the money dispenser. The display and keypad probably use the keyboard and display connectors.

Which are some famous companies that manufacture ATMs?

Some of the famous companies that manufacture ATM machines are Ventus, Triton, Pheonix Interactive Design, Cryptera, Custom, Bancsource, and some others.

What is the advantages for marketing research?

learn the habits of a certain demographic. how they respond to product. how to approach them with a product.

Are ATM cards waterproof?

Yes and No. Most ATM Cards are made from Plastic and hence they are waterproof. But, these days newer cards are coming with the latest Micro Chips which are not so water proof. They are just like any other electronic device. They are bound to get damaged with exposure to water.

How does ATM work in WAN?

This is a very large question. ATM is an extremely complex protocol. In general, however, it differs from other technologies in a few ways:

- It chops frames into 53-byte cells. It does this in order to more easily guarantee transmission according to desired Quality of Service parameters.

- It creates private virtual networks over service provider WANs. It has been largely supplanted by MPLS, however.

- It can create Virtual Paths and Virtual Circuits on-demand. It's still the only data networking technology that will do this, however MPLS does emulate this functionality by allowing more granular QoS control, due to newer and more advanced hardware/software.

How do you register TD Bank giftcard?

Although Chase no longer offers gift cards, you can register a gift card on their website and track your balance there. You will need to enter the card number, the three-digit code and then 9999 for the last four of the phone in order to complete the registration process.

Who made atm?

In 1939, Luther Simjian patented an early and not-so-successful prototype of an ATM.

However, some experts have the opinion that James Goodfellow of Scotland holds the earliest patent date of 1966 for a modern ATM, and John D White (also of Docutel) in the US is often credited with inventing the first free-standing ATM design. In 1967, John Shepherd-Barron invented and installed an ATM in a Barclays Bank in London. Don Wetzel invented an American made ATM in 1968.

However, it wasn't until the mid to late 1980s that ATMs became part of mainstream banking.

What is Telegraphic Money Transfer?

the telegraphic money order allows the Post Office of the sender to send a telegram advice to the receivers post office for an additional fee.

What are the disadvantages of telephone banking?

1. The most common one would have to be the fact that not all banks andbuilding societies offer 24 hour telephone banking.

2. Telephone banking like online banking can seem impersonal, but likeonline banking, if you use it on conjunction with your regular bank accountit can be a useful tool

What is the role of the computer in banking system?

Banking would be a dangerous field to work in without Computers, people would go to the bank carrying large sums of money early in the morning and leave the Bank the following morning just to finish counting the money manually usually getting blisters after that, but computers have made it all easier, on the operation research side, it has proved so effective that one can simply walk to the ATM and withdraw the money, without necessarily waiting in a long cue to get served by the teller, getting around clients details is far much more improved than ever before so is the generating of clients statement.

What does magnetic ink character reader mean?

magnetic ink character reader as defined by the ANSI is the common machine language specification for paper based payment transfer data.

The MICR technology is primilarily used by banking industry to facitilate the processing cheques.the technology allow the computer to read the information such as accont no. off printed document unlike barcodes or similar technologies . however MICR character are easily read by human

What computer hardware is used in banks?

Propietary ones. Custom made and they cost a lot $$$$$$ (millions range)