Buyers of Iranian oil and gas must deposit payment in a local bank account and it cannot be transferred abroad.
Each payment by direct deposit costs the U.S. about 10 cents.
In theory, in the worst cases, the parts of the banks that are thought to be most important to keeping the rest of the financial system functioning smoothly, for instance their deposit books and payment systems, will be quickly cut out and transplanted into a healthy bank or kept on life support.
People often budgeted an entire afternoon for a trip to a bank branch to check their balances or to make a deposit, withdrawal or payment, explained Anthony Mwai, country general manager for IBM in East Africa.
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The ring-fence structure makes a distinction between the bits of banking that need saving (deposit-taking banks, payment systems and the like) and the bits that do not (bonus-gorging investment bankers).
The report recommends requesting paperless statements, enrolling in direct deposit, and using electronic bill payment.
Retail bank branches may be the oldest legacy of all, but they have not been replaced by ATMs, direct deposit, standing orders for bill payment, travelers checks, credit cards, phone banking, Internet banking or mobile banking.
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It requires a 50% deposit at the time of purchase and then full payment in four months when clothing is delivered.
The phased-payment plans in the Caribbean typically required a buyer to pay a deposit upon signing a contract.
About 12% of the current deals require a 10% down payment, and only 3% are available to people with a deposit of 5% or less.
Over-payment fraud, the victim receives an invalid monetary instrument with instructions to deposit it in a bank account and send excess funds or a percentage of the deposited money back to the sender.
You also can't require the tenant to pay a higher security deposit than you'd charge anyone else, though you can require payment for any damage the animal causes.
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This new payment system also takes the cheapest money out of circulation because it encourages banks to leave more funds on deposit at the Fed rather until they identify a more profitable alternative.
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Of the 1, 623 mortgage deals currently on offer, two-thirds still require a deposit of at least 25%, with a quarter of all deals needing a down-payment from the borrower of at least 40%.
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