payment banks

payment banks
These are CREST Participants who guarantee payment for securities delivered to their client via CREST. Payment banks respond to instructions from members' CMAs (see Cash Memorandum Account). All cash movements are effected outside CREST by debits/credits to their accounts at the Bank of England. Dresdner Kleinwort Wasserstein financial glossary

Financial and business terms. 2012.

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  • Payment protection insurance — Payment protection insurance, (also known as PPI, credit protection insurance, loan repayment insurance, not to be confused with income protection or credit card cover) is an insurance product that is often designed to cover a debt that is… …   Wikipedia

  • banks and banking — Authorized financial institutions and the business in which they engage, which encompasses the receipt of money for deposit, to be payable according to the terms of the account; collection of checks presented for payment; issuance of loans to… …   Law dictionary

  • Payment Services Directive — The Payment Services Directive (PSD) is a regulatory initiative from the European Commission (Directorate General Internal Market) which will regulate payment services and payment service providers (as defined in the Directive) throughout the… …   Wikipedia

  • Payment — A payment is the transfer of wealth from one party (such as a person or company) to another. A payment is usually made in exchange for the provision of goods, services or both, or to fulfill a legal obligation. The simplest and oldest form of… …   Wikipedia

  • Payment Card Industry Data Security Standard — The Payment Card Industry Data Security Standard (PCI DSS) is an information security standard for organizations that handle cardholder information for the major debit, credit, prepaid, e purse, ATM, and POS cards. Defined by the Payment Card… …   Wikipedia

  • Payment card industry — The payment card industry (PCI) denotes the debit, credit, pre paid, e purse, ATM, and POS cards and associated businesses.The term is sometimes more specifically used to refer to the Payment Card Industry Security Standards Council, an… …   Wikipedia

  • Freight payment service — Freight Payment ServiceThe freight payment industry was actually formed by a series of Banks when the transportation marketplace was heavily regulated. Motor carrier bills had to be paid within 7 days and rail bills needed to be paid within 5… …   Wikipedia

  • international payment and exchange — ▪ economics Introduction international exchange also called  foreign exchange        respectively, any payment made by one country to another and the market in which national currencies are bought and sold by those who require them for such… …   Universalium

  • Malaysian Electronic Payment System — Industry Finance Founded December, 1996 Headquarters Kuala Lumpur, Malaysia …   Wikipedia

  • SADAD Payment System — (SADAD) was established by the Saudi Arabian Monetary Agency (SAMA) to be the national Electronic Bill Presentment and Payment (EBPP) service provider for the Kingdom of Saudi Arabia (KSA). The core mandate for SADAD is to facilitate and… …   Wikipedia

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