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Revenues and Computer Aided Banking System Through ACH Processing by Reiko Pena
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Revenues and Computer Aided Banking System Through ACH Processing by REIKO PENA
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| Article Posted: 10/28/2012 |
| Article Views: 43 |
| Articles Written: 4117 - MORE ARTICLES FROM THIS AUTHOR |
| Word Count: 322 |
| Article Votes: 0 |
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Revenues and Computer Aided Banking System Through ACH Processing |
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Computers
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In this age of computer and internet office work output even of sensitive nature can be electronically handled after taking appropriate safe guards. ACH processes or the Automated Clearing House as the name suggests is a network of financial institutions including banks linked to each other for executing day’s transaction online from wide geographical locations. The transactions in ACH processing include clients of individual nature companies’ tourists and so on. The work begins with submission of the check with details of its destination. As of now the insurance premiums stock players and corporate huge funds are also handled sitting and functioning through computer. A lot of paper work is reduced and the work is conducted with speed. However precautions are very necessary. In short debit and deposit takes seconds and not days to be carried out. The financial institutes have through experience leant to keep frauds at bay. The internet security has many covers and theft is rare occurrence. As a result clients have come to trust the system. Merchant account is made use of by travelers’ online marketing companies and so on. Certain businesses are labeled differently by financial institutes. There is a tag of high risk attached to it. Betting and gambling is one such sector. High risk merchant account is difficult to procure. Business houses conducting high volume business and equally efficient production are dealt with caution. The condition attached to opening of the account is a method of precaution which a financial institute takes to safeguard its interest and not be duped through cheating. Plastic money in the form of credit and debit card has increased the spending power of the population. E-commerce has quickened the pace of business and orders are executed in the shortest time possible. The banking sector has come out with policies practical and applicable to the present situation ACH processing and High risk merchant account are part of the new system.
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