Difference Between Swift Code And IBAN Code

Banks and financial institutions uses different identification numbers to process there transactions fast and accurately. Account number is one example of this kind of identification number which helps bank as well as... Read more »

Use MICR Code To Get Early Income Tax (IT) Refund

Today people are more vigilant towards filing there income tax return on time as they understand its importance and benefits. Other than that the other important reason for filing income tax return... Read more »

What Are The Different Modes Of Crossing Of Cheques?

We already know ‘What is a cheque? What are the different types of cheque?’. Here we are broadly classifying the types of cheques as open cheques or uncrossed cheques and crossed cheques.... Read more »

What Is Quantitative Easing?

Quantitative Easing (QE2) is a monetary policy tool used by the central banks to increase the supply of money in an economy when the bank interest rate, discount rate and/or interbank interest... Read more »

What Is ISIN Code?

The International Security Identification Number (ISIN), is a 12 Digit alpha-numeric code that uniquely identifies a security across the world. It is designed by the United Nations ISO (International Organization for standardization)... Read more »

Difference Between Money Order & Cashier’s Cheque

Cashier check and money order are physical instruments used to transfer funds from one party to another by personally handing them, sending via postal/courier service and clearing them through bank accounts for... Read more »

Difference Between Cheque And Promissory Note

In business there are several payments made in a single day and it is not possible to make use of cash all the time. So to eliminate the risk of carrying cash... Read more »

Difference Between Swift Code And IFSC Code

Swift code and IFSC code are identification codes. These identification codes are used for the purpose of electronic money transfer between financial institutions, mainly banks. Which means one has to mention these... Read more »
Online Money Transfer

Overview : Automated Clearing House

With the growth of economy, the volume of non-cash retail and commercial payment has replaced the earlier paper based payment methods like cheques etc. ACH is one of the most popular network... Read more »

What Is A Bank SWIFT Code?

SWIFT code stands for ‘Society for Worldwide Interbank Financial Telecommunication’ code. A SWIFT code is a universal way of identifying banks throughout the world. The SWIFT code is an 8 or 11... Read more »

What Is Speed Clearing?

Speed Clearing refers to collection of outstation cheques through local clearing. In simple words, speed clearing means processing of outstation cheques electronically and without movement of cheques from the presentation centre (city... Read more »

What Is Open Market Operations(OMO)?

Open market operation is the means of implementing monetary policy by which a central bank, such as Reserve Bank Of India (RBI) in India, controls the term interest rate and the supply... Read more »

Telegraphic Transfer (TT) – A Mean To Transfer Funds Via Wire/Cable

Telegraphic Transfer or Telex Transfer a banking term commonly called “T/T, is an electronic method of fund transfer in which funds are transferred via telegraph or cable. Although these days the telegraph... Read more »