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BAI, or the BAI file format, is a file format for performing electronic cash management balance reporting. The BAI format was developed and previously maintained by the Bank Administration Institute (BAI). [1] One common application of the BAI format is for use by banks to transmit returned item data to customers (for example, checks which have ...
A bank statement is an official summary of financial transactions occurring within a given period for each bank account held by a person or business with a financial institution. Such statements are prepared by the financial institution, are numbered and indicate the period covered by the statement, and may contain other relevant information ...
Banking. Electronic funds transfer (EFT) is the electronic transfer of money from one bank account to another, either within a single financial institution or across multiple institutions, via computer -based systems, without the direct intervention of bank staff. Funds transfers are the primary mechanism used by the business community for fast ...
ERMA ( Electronic Recording Machine, Accounting) was a computer technology that automated bank bookkeeping and check processing. Developed at the nonprofit research institution SRI International under contract from Bank of America, the project began in 1950 and was publicly revealed in September 1955. [ 1][ 2] Payments experts contend that ERMA ...
Locations of the new hubs. The new hubs will open in Sidcup, in London, Normanton in West Yorkshire, Hailsham in East Sussex, Frome in Somerset, Sheerness in Kent, Whitley Bay in Tyne and Wear ...
The BSB Standard. Bank Services Billing (BSB) is an industry standard that governs the format of electronic bills send out by financial institutions to wholesale customers (e.g. corporations, governments, institutions ). BSB is a statement to report on the corporate customers' usage of financial services and their related charges.
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