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Agency Bank Cheque Clearing

Posted by on Jan 22, 2007 in Articles, Banking Product Engines, Gateways to the Banking Industry | 0 comments

For those who are not familiar with the UK Cheque clearing processes we have created two further reports that explain the current UK cheque clearing processes.

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Current UK Cheque Clearing Process

Posted by on Jan 22, 2007 in Articles, Banking Product Engines, Gateways to the Banking Industry | 1 comment

For those who are not familiar with the UK Cheque clearing processes we have created two further reports that explain the current UK cheque clearing processes.

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What The Government’s Cheque Clearing Changes Mean For Banks

Posted by on Jan 21, 2007 in Articles, Banking Product Engines, Gateways to the Banking Industry | 1 comment

The Government has announced changes that have to be made by end 2007 to the cheque clearing system. An explanation of the government changes and how these impact Clearing Bank and non-Clearing Bank cheque processes.

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SEPA

Posted by on Nov 22, 2006 in Articles, Gateways to the Banking Industry | 0 comments

SEPA is just for European banks, right? Wrong! UK banks have to do quite a lot. Find out what…

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Development of Payment Systems within Banks

Posted by on Sep 25, 2005 in Articles, Banking Product Engines, Gateways to the Banking Industry | 0 comments

The new industry driven real time payments for internet banking, telephone banking and standing orders will cause banks’ IT departments to re-engineer their core banking systems. This will be a major area of systems development over the next few years and this article describes the impacts by systems area.

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Collection Accounts and Agency Banks

Posted by on Aug 28, 2005 in Articles, Banking Product Engines, Gateways to the Banking Industry | 1 comment

The main clearing banks provide special services for: Organisations receiving very large numbers of payments (e.g. utility companies, retailers, local government etc.) Small banks and building societies who do not want the hassle of running their own clearing and payments operations. The former use a service called a Collection Account, sometimes called a Head Office Collection Account or HOCA. The latter use a service called Agency Bank Service. They are described in turn below, although they have some features in common and they form an important part of the Reconciliation Services banks offer. Collection Accounts Let us take the example of a Local Authority who has to receive community charge from 100,000 houses in its area. There are only a few bands so the monthly charge may well be the same for 20,000 of the homes. The local authority...

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