How to Keep Your Bank from Canceling All Your Accounts
The New York Times: Banking
NOVEMBER 18, 2023
Banks have suddenly shut down the accounts of scores of customers. Here’s how you can avoid becoming one of them.
Zero Balance Current Account: A Quick Explainer
Razorpay
JANUARY 19, 2024
Powerful current accounts always come with a caveat; a minimum balance requirement. Whether it is a few ten thousand or a few lakhs, most accounts are not zero balance current accounts. Would a zero balance current account really be so beneficial to businesses?
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Banks Should Have Better Customer Relations When Closing an Account
The New York Times: Banking
DECEMBER 30, 2023
When banks close checking and credit-card accounts because of “suspicious activity,” chaos and anxiety ensue. It doesn’t have to be this way.
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Synapse Bankruptcy: When a Fintech Isn’t a Bank and Savings Accounts Are Frozen
The New York Times: Banking
JULY 9, 2024
For unsuspecting depositors of online financial start-ups, the unraveling of a little-known intermediary has separated them from their life savings.
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Checking Account – Meaning & How Does it Work?
Razorpay
MARCH 27, 2024
What is a Checking Account? A checking account is a type of bank account that allows you to deposit and withdraw money, write checks or use a debit card to make purchases or pay bills. Generally, account holders use these accounts on a short-term basis for paying daily expenses like food bills.
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Fraud Against Financial Institutions Calls for Tighter Security Measures Protecting Customers in 2024
Global Banking & Finance
FEBRUARY 29, 2024
Fraud Against Financial Institutions Calls for Tighter Security Measures Protecting Customers in 2024 In January 2024, Citigroup was sued for its weak security measures against fraud.
Citi Is Sued by New York State Over Account Transfer Fraud
The New York Times: Banking
JANUARY 30, 2024
New York’s attorney general said the bank failed to protect its customers from hackers who, in some cases, stole their life savings and college funds.
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Former Wells Fargo Executive Avoids Prison in Sham Accounts Scandal
The New York Times: Banking
SEPTEMBER 15, 2023
Prosecutors had sought a year of incarceration, which they said would be a deterrent to other corporate executives.
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BlackRock to streamline Aladdin operations through Saphyre tie-up
The TRADE
DECEMBER 10, 2024
Our partnership with Aladdin represents a pivotal evolution for Saphyre, building on our already extensive network of top-tier investment managers and financial institutions, said Ray Shivers, COO of Saphyre.
A Russian Bank Account May Offer Clues to a North Korean Arms Deal
The New York Times: Banking
FEBRUARY 5, 2024
Moscow may be trying to help Pyongyang with access to the international financial system in exchange for missiles and ammunition, U.S.-allied allied intelligence officials suggest.
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Quiz: Would You Close This Bartender’s Bank Account?
The New York Times: Banking
DECEMBER 9, 2023
Here’s what bank security employees might be thinking when deciding whether to shut down a customer account after detecting unusual activity.
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Startup Current Account: The Best Way to Bank for New Age Businesses
Razorpay
MARCH 19, 2024
Many startup founders initially feel that they can manage their organisation without having a current account. However, sooner than later, they would realise they require a current account to facilitate streamlined withdrawals, deposits and other business transactions. Let’s get right into it. What is a Startup Current Account?
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What are Corporate Accounts? Meaning, Benefits & Types
Razorpay
MARCH 18, 2024
What is Corporate Account? A corporate account is a bank account one can open in the name of a business. Every small business that is required to pay tax should have a corporate bank account for business banking and its numerous benefits. Read on to learn the vital details associated with a corporate bank account.
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What is a Merchant Account? How to Get a Merchant Account?
Razorpay
DECEMBER 1, 2023
Once you have set up a business account, it is important to set up an online merchant account as well. But what is a merchant account? Let’s read further to learn everything about merchant accounts. Let’s read further to learn everything about merchant accounts. What is a Merchant Account? Wondering why?
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Banks Offer Bonuses for Customers Opening New Accounts
The New York Times: Banking
SEPTEMBER 13, 2024
Facing competition for business, banks are offering incentives to switch. But as one expert put it, “You have to read the fine print.”
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What to Know About Writing Checks While Preventing Fraud
The New York Times: Banking
JANUARY 7, 2024
Should you keep a separate checking account for writing checks? Is there a specific pen you should use? We answer some reader questions.
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High-Yield Savings Accounts Are Still a Good Deal
The New York Times: Banking
NOVEMBER 22, 2024
Interest rates have been falling, but deposits are earning more than inflation.
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Security Deposits: Your Landlord May Owe You More Than You Think
The New York Times: Banking
JUNE 1, 2024
Landlords are required to put security deposits in interest-bearing bank accounts. How much of that interest goes to you?
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The Top 3 Mistakes To Avoid With Your 401(k)
The New York Times: Banking
JULY 27, 2024
Here is what experts say are the costliest stumbles people make with their retirement savings accounts — and how to get back on course.
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The State Had One Woman’s Unclaimed Funds. It Turned Out to Be a Windfall
The New York Times: Banking
MARCH 23, 2024
A financial firm told an account owner that it had turned over her money to the state. When she filed a claim, something strange happened.
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What is Payment Processing? How It Works and Its Advantages
Razorpay
MAY 6, 2024
These actions involve secure gateways, banks and consumer accounts to facilitate the exchange of funds for goods and services. This shift has been made possible by the speed and effectiveness enabled by modern technology – it has transformed how we handle financial transactions.
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Lebanon Freezes Accounts of Riad Salameh
The New York Times: Banking
AUGUST 15, 2023
The action comes days after a U.S.-led led coalition accused Riad Salameh of decades of corruption to enrich himself at the expense of his country.
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How banks can mitigate cloud security threats
Global Banking & Finance
OCTOBER 7, 2024
Furqan Siddiqui, SOC Operations Officer at Obrela As custodians of sensitive financial data, banks and financial institutions face several cloud security threats that demand security controls and mitigation strategies.
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I.R.S. to Send Out Unclaimed Tax Credit to One Million Taxpayers
The New York Times: Banking
DECEMBER 23, 2024
Some Americans who qualified for a pandemic-era tax credit but did not claim it will get up to $1,400 in their account within the next month.
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When a Bank Rescinds a Job Offer Because It Canceled Your Credit Card
The New York Times: Banking
JUNE 6, 2024
Then it reviewed his account activity. Last year, JPMorgan Chase wanted to pay Mansoor Shams a low-six-figure salary to work in a marketing role.
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Accrued Interest Formula
Wall Street Mojo
JANUARY 4, 2024
Accrued interest Accrued Interest Accrued Interest is the unsettled interest amount which is either earned by the company or which is payable by the company within the same accounting period. Still, the same is not received or paid in the same accounting period. And the loan is payable every month.
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What is a Neobank? Everything you should know
Razorpay
JUNE 18, 2023
Long waiting times, security issues, and fixed working hours are a few of the problems plaguing legacy financial institutions today. Ease of Use The process of opening an account at a traditional bank is long and frustrating. Users can create their accounts on their mobile phones, sitting on their sofas at home.
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IMGC to focus on strengthening partnerships with finance institutions: CEO
Business Standard - FInance
JUNE 13, 2023
India Mortgage Guarantee Corporation (IMGC) would focus on strengthening partnerships with banks and financial institutions, a top official said on Tuesday. In FY2022-23, IMGC doubled its market share in South India accounting 30 per cent of all originations in the region.
Statement of Cash Flow
Wall Street Mojo
JANUARY 17, 2024
Statement of Cash Flows Definition A Statement of Cash Flow is an accounting document that tracks the incoming and outgoing cash and cash equivalents from a business. It helps identify the availability of liquid funds with the organization in a particular accounting period.
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Unpacking the 20 most impact financial regulations from the last 20 years
The TRADE
APRIL 30, 2024
Over the past two decades, several critical financial market regulations have been implemented globally, particularly in response to the 2008 Global Financial Crisis (GFC). The years following 2008’s GFC experienced continued financial regulatory reform.
Despite the dominance of voice trading, electronification is the natural path for Peru
The TRADE
FEBRUARY 29, 2024
During the last few years, there has been a notable increase in financial institutions and corporates in Peru accessing offshore liquidity through electronic platforms, with transparency and high liquidity for G10 currencies some of the main drivers that promoted an increase in market activity.
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Offline UPI Payment – How To Make UPI Payment Without Internet?
Razorpay
MAY 15, 2024
You can transfer money, request funds, change your UPI PIN, and check your account balance anytime and anywhere. It is a nationwide service in collaboration with 83 leading financial institutions and 4 telecom service providers. You will see a list of all accounts registered with your mobile number on the screen.
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Jupiter becomes latest institution to join Saphyre
The TRADE
JUNE 14, 2024
Jupiter has become the latest firm to join Saphyre’s network of financial institutions utilising the fintech’s platform. Stephen Roche As part of the move, Jupiter will leverage Saphyre’s platform for the onboarding and maintenance of its trading relationships with brokers and custodians. Saphyre’s automated intelligence enables onboarding (..)
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What is Payment Gateway and How does It Work?
Razorpay
JUNE 20, 2023
It acts as a secure bridge between the customer’s payment method (such as a credit card or digital wallet) and the merchant’s bank account, facilitating the authorisation and processing of transactions. Step 3: Payment gateway verifies customer’s account balance. If approved, merchant requests transaction from bank.
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Your Identity Has Been Compromised. Now What?
FineMark
SEPTEMBER 20, 2023
You may want to start by calling your bank and other financial institutions to let them know what’s happening. Setup Alerts At FineMark, we will put an alert on your accounts so no money will leave the bank without your permission. Check out this link on how to setup Mobile Alerts for your Bank Account here.
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RBI directive on one-time-settlement with defaulters can derail banks: MP
Business Standard - FInance
JUNE 22, 2023
The RBI circular permitting banks to enter into a one-time settlement with wilful defaulters poses a significant risk to the stability of financial institutions in the country, the CPI MP Binoy Viswam has said.
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What are export payments and how to choose the right one for your business?
Razorpay
OCTOBER 13, 2023
Wire transfer: Typically processed by banks or financial institutions through a secure and networked system like SWIFT (Society for Worldwide Interbank Financial Telecommunication), it is the most preferred method for cash-in-advance. Interested? Get In Touch!
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The tough task facing the Australian securities regulator
Bronte Capital
APRIL 30, 2021
Feature one: compulsory privatised pensions (called superannuation) Australians are forced to save almost ten percent of their salary into lock-box savings accounts that they cannot touch until retirement. Financial institutions in Australia have been fattened on fees from these collected savings. He got two and a half years.
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What Is eMandate: Meaning and How Does It Work?
Razorpay
MARCH 21, 2024
A mandate is a standard instruction that you provide to your issuing bank and other institutions allowing them to automatically debit the mentioned amount from your bank account. This ensures that the payer is the owner of the bank account and agrees to the terms and conditions of the e-mandate.
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Bank of America Fined $150 Million Over ‘Junk Fees’
The New York Times: Banking
JULY 11, 2023
The bank double-charged overdraft fees, withheld card perks and opened unauthorized accounts, regulators said. It will repay customers more than $80 million.
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Quarterly Review of Shareholder Activism – Q3 2022
The Harvard Law School Forum
OCTOBER 19, 2022
Continuing an H1 trend, Technology companies were the most frequently targeted in Q3, accounting for 22% of new activist targets. North American targets accounted for two-thirds of all new campaigns in Q3, above H1 (55%) and 2018 – 2021 average (59%) levels. Targets in the Crosshairs.
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Certificate of Deposit (CD)
Wall Street Mojo
JANUARY 18, 2024
Certificate of Deposit Explained A certificate of deposit account is a kind of fixed tenure investment instrument offered by banks, credit unions, and brokers working for a financial entity. Usually, a CD is understood as a kind of savings account that offers a higher interest rate than an ordinary savings account.
How Bank Reconciliation Helps Businesses?
Razorpay
MAY 17, 2023
Bank reconciliation refers to the process by which the bank account balance of a business entity is reconciled with the amount recorded by financial institutions in the latest bank statement. A bank reconciliation statement ensures that all payments are processed and the required cash is deposited in the bank account.
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What is Banking?
Razorpay
JUNE 8, 2023
A bank is any financial institution that helps people and businesses store, invest and borrow money. Apart from being a safe place to keep money, banks also provide savings accounts that give the account owner interest on their deposit so that the money is not sitting idle. What is Banking? How do Banks Work?
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