Truncation: Difference between revisions
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imported>Doug Williamson m (Spacing 14/8/13) |
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''Banking''. | ''Banking''. | ||
A procedure in which the physical movement of paper payment instruments (for example paid cheques or credit transfers) within a bank, between banks or between a bank and its customer is curtailed or eliminated, being replaced, in whole or in part, by electronic records of their content for further processing and transmission. | A procedure in which the physical movement of paper payment instruments (for example paid cheques or credit transfers) within a bank, between banks or between a bank and its customer is curtailed or eliminated, being replaced, in whole or in part, by electronic records of their content for further processing and transmission. | ||
== See also == | == See also == | ||
* [[Cheque truncation]] | * [[Cheque truncation]] | ||
Revision as of 11:47, 14 August 2013
Banking.
A procedure in which the physical movement of paper payment instruments (for example paid cheques or credit transfers) within a bank, between banks or between a bank and its customer is curtailed or eliminated, being replaced, in whole or in part, by electronic records of their content for further processing and transmission.
