Deposits

A Guide to Traditional Money Services

    A Guide to Traditional Money Services
A traditional money service business effectively functions as an alternative to a bank. No one is required to hold a bank account anywhere. Doing so is simply helpful and often
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Uniform Money Services Act Explained

The Uniform Money Services Act was approved by the National Conference of Commissioners on Uniform State Laws as a worthwhile Uniform State Law to help regulate money service businesses. The
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A Full Overview of Deposits

A deposit is the action taken when a payee gives a check to a bank so that the bank will add the value of the check to the payee's account
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The Facts About the Collection Process

The collection process is the system by which a depository bank obtains payment from an issuing bank for a check. To put it in clearer terms, the bank which accepts
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What are Commercial Fund Transfers?

Commercial fund transfers inherently differ from consumer fund transfers in that commercial fund transfers come from commercial parties. A commercial
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Knowing the Rules of Consumer Fund Transfers

Consumer fund transfers are those transfers which concern personal transfers and personal accounts. The first and most obvious distinction between
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Designation of Banks That Collect Money

The banks involved in collecting money each have a different designation, demonstrating the role of that bank with regard to
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A Guide to Electronic Funds Transfer Systems

Electronic funds transfer systems are those systems which are used to perform an electronic funds transfer. There are a number
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Electronic Funds Transfer Act

The Electronic Funds Transfer Act, or EFTA, is also known as Regulation E. The Act was created in 1978 in
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Deposit Money Quickly with Interest Accounts

Interest accounts are a specialized form of deposit account. One would still deposit money into an interest account and would still retain the right to withdraw money from such an
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