Archive for December, 2008
Tuesday, December 23rd, 2008
Positive pay is the most important control and fraud prevention concept available for checks. After each day's check run, the company sends a file to its bank, which contains data on all issued items. The issued file is delivered by magnetic tape or through a PC modem ...
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Monday, December 22nd, 2008
The relative inaccessibility of these locations minimizes the possibility of an over-the-counter presentment during the day. Most banks offering controlled disbursement will hold any checks so received, or will make clearing adjustments the next day for debit to the account, eliminating supplemental funds transfers to cover ...
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Monday, December 22nd, 2008
People who have car usually insurance their car for prevent any possibility damage. They do not want to take any risk in spending more money if something terrible happen to their car. A lot of insurance company they can apply. But some of the insurance company does not accept for ...
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Sunday, December 21st, 2008
In 1983, the Fed established payor bank services, which provides participating banks with information on presentments to be made that day, very early in the morning. This permitted banks to develop controlled disbursement accounts, a specialized form of ZBA account used only for disbursements. The controlled ...
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Sunday, December 21st, 2008
There are so many ways available nowadays that we can choose to educate ourselves. One of the easiest is by taking an online school. This way is the easiest since we will never have to be limited by the time or the space. It is also usually the cheapest way ...
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Saturday, December 20th, 2008
As noted in regard to concentration, a ZBA used for disbursements seeks to minimize idle balances in a DDA account. A master account funds the disbursement accounts that have experienced clearings during the day. The net effect is that, at the end of each business day, ...
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Friday, December 19th, 2008
A disbursement system pays vendors, employees, tax agencies, bond- and stockholders, and other payees at the proper time using the appropriate mechanism. As with paper collections, a disbursement system must be managed to reduce idle balances while providing timely disbursement information. Disbursement float arises from the ...
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Friday, December 19th, 2008
How to choose the appropriate insurance service might be something usual since it is a matter of reliability and also a matter of people’s safety. An insurance service should work very well in protecting someone’s life. Therefore, as a wise customer we also need to be careful in taking one ...
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Thursday, December 18th, 2008
The amount of the funds in the collection account should be evaluated to determine if it is cost-effective to use Fedwire (a same-day mechanism) or next-day ACH in order to invest, cover disbursements, or reduce loan balances. For example, $250,000 in a collection account may reduce a ...
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Wednesday, December 17th, 2008
Design of a cash concentration system involves considerations of cost and access to information. There are three cost elements to examine in planning a concentration system:
The cost of the transfer mechanism. Electronic funds transfer systems were discussed in Chapter 2. As noted, there is a significant cost ...
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