In branchless banking (BB) - banking through mobile for unbanked - these accounts are used for 'money-in-transit'.For example,sender sends payment from US ACH account to a BB mobile number in Pakistan.The customer receives an alert on their mobile to withdraw this money from any BB agent....
In branchless banking (BB) - banking through mobile for unbanked - these accounts are used for 'money-in-transit'.For example,sender sends payment from US ACH account to a BB mobile number in Pakistan.The customer receives an alert on their mobile to withdraw this money from any BB agent....
From Longman Business DictionaryRelated topics:Bankingsusˈpense acˌcount[countable]abankaccountused to keepincomefor a short time until it has beendecidedhow todealwith itMore than $1 million remains in suspense accounts awaiting processing.→account ...
In branchless banking (BB) - banking through mobile for unbanked - these accounts are used for 'money-in-transit'.For example,sender sends payment from US ACH account to a BB mobile number in Pakistan.The customer receives an alert on their mobile to withdraw this money from any BB agent....
The idea of the suspense account is also found with branchless banking, or BB. For example, if a customer submits payment via an electronic transfer to the bank of a supplier, the funds are placed into a suspense account until they are actually deposited into the supplier’s bank account....
RegisterLog in Sign up with one click: Facebook Twitter Google Share on Facebook Dictionary Financial Wikipedia Graphic Thesaurus🔍 DisplayON AnimationON Legend Synonym Antonym Related noun Words related to suspense account an account used temporarily to carry doubtful receipts and disbursements or disc...
a payment on customer account; performing a validation process on information related to the payment with the revenue collection module; and in response to a failure of the validation process indicating a failure to validate the information related to the payment, suspending the payment with the rev...