A great visual look at the subject of online banking.
This is a review on the board game Monopoly: The Electronic Banking Edition
Video Rating: 4 / 5
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Question posed by RassyBeds: Why does it take online banking services 3 days to clear payments when the transactions are all electronic?
When I transfer money between online bank accounts, I don’t understand why it takes three days to clear. I undertand this used to be the case when I used to pay cheques into the bank manually and staff had to process these, but I don’t expect this when this is done electronically.
The top answer:
Answer by Sparkle23
It takes three days if different organisations are involved as the money still needs to go through a clearing cycle and also all transactions need to be monitored for money laundering purposes. so although it isn’t involving staff manually working the transfers still have to go through certain processes before they can be cleared for use in the other organisation.
What do you think? Leave you answer below!
A question from inquisitive: Which bank in Dubai is the best when it comes to electronic services (phone and internet banking)?
Does this bank allow me to transfer/receive money to/from other accounts in other banks in the UAE?
Most detailed answer:
Answer by tin m
you can do that from any ATM machine (with the ATM card), so of course using the bank own network. You can also use it in any ATM machine in other GCC countries as long as it shows GCC NET logo.
If you know better then please let us know below.
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