Module 8 : Retail Banking Services and Operations: Funds Transfer and Remittances

Objectives Remittances and fund transfers Types of funds transfers Online transfers and Faster Payment Service (FPS) Standing orders and direct debits International money transfers 8.1 Introduction Retail banks offer several types of services to customers. Some important ones include remittances and foreign exchange services and transfers. Remittance products form an integral portion of the retail services offered by banks. The term remittance implies transfer o...