Published on January 24, 2014
WHAT ARE THE DIFFERENT MODES OF FUND TRANSFER?
As a postgraduate student specializing in finance management, you were excited to attend you today’s class on different modes of funds transfer. You hoped that the chapter would be interesting and you hoped that you could learn a few things that you could implement them in your regular life. The class met your expectation and you were also given an assignment which was to be presented to the class in the coming Friday. Since the topic was same, you wanted your presentation to be the best and collected a few data related to the topic.
The Different Ways by Which Funds Can Be Transferred: Transfer of Money or Cash : Today it is very easy to send and receive money from your loved ones. Since people enjoy a busy lifestyle most banks have encouraged the use of money transfer by digital technology. Here the basic process is that you log into your e bank account from your bank website and then transfer the digital money into the receivers account. Within a few seconds money would be transferred into the senders account. Despite its limitation, this process is very helpful during emergency times.
Cheque Transaction : A popular traditional method of fund transfer is cheque transaction. This was updated to you by your expert teachers at finance assignment help. Writing a cheque is very easy but deposit method is time consuming. But to enhance their customer service, most banks have started a drop in box at their ATM centers, where they can drop the cheques and enjoy a better convenient service from their banks.
Electronic Deposit : Most companies pay their employers their salary, using this digitally enhanced technology of direct deposit, very month. This method is easy and convenient and large amount of paper is also saved.
Plastic Money : In the recent years, the growth of plastic money has revolutionized the way money is transferred. Your experts at finance homework help update you that plastic money can be in the form of credit card and debit card. Other popular fund transfer methods were PayPal and Text Pay Me. You read thru your presentation that you would give on Friday and you felt that the information shared to you to be your assignment services, would help you to be a winner.
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