Text 5021, 118 rader
Skriven 2010-02-18 08:47:00 av Bob Seaborn (1:140/12)
   Kommentar till text 5019 av Robert Bashe (2:2448/44)
Ärende: Banking
===============
 >
 > I was referring to a direct account transfer, not to this "Interac Email
 > Money Transfer" you meant. At least in the States, anyone (mainly the
 > government and large companies) who pays money directly into your
 > account requires an agreement signed not only by you, but also by your
 > bank confirming your account. The procedure is quite complex and time
 > consuming, and is not something you'd do for a one-time transfer.


      I have used the direct deposit method, unfortunately here it only works
within the same bank.

 >
 >BS> I believe it can be done here also, but isn't all that common as
 > banksBS> are highly competitive.
 >
 > Unless Canada is completely different from the USA in this respect, I
 > sincerely doubt that. I doubt that you as a private person can directly
 > transfer money to another person's account and I also doubt that the
 > banks are as competitive as you think, as bank fees in the States and
 > presumably also in Canada are sky high in comparison to those in Europe.
 > I might mention that things like "inactivity fees", common in the
 > States, are unknown in Europe.


      I have used the direct deposit personally, both to receive and send ##.
I have never been charged any fee, nor has anyone depositing to me reported so.
Currently my bank fees are exactly zero, for which I have a chequing account, a
savings account, two debit cards, and a credit card, as well as overdraft
protection and a slew of 'bonus' goodies.



 >
 >RB>> In the States, many (most?) businesses require that you agree to
 >RB>> allow them to retrieve funds transferred to your account by
 > mistake.RB>> That's part of the above-mentioned "agreement".
 >
 >BS> Here, once the process is finished, there's no way to reverse the
 >BS> process other than the recipient willingly transferring the $$ back.
 >
 > As mentioned above, we're talking about different things. I was again
 > referring to direct account transfers.


      So am I.

 >
 >RB>> "Electronically" doesn't mean the same thing in the USA and Canada
 > asRB>> in Europe. This confused me at first too, when I had to provide
 >aRB>> name and address for the payee, and was not asked for the bank or
 >RB>> account number. What they really mean is that the bank issues and
 >RB>> sends a check (through the mail) to the payee.
 >
 >BS> When I set up my web-banking here to pay bills, I had to supply the
 >BS> payee info. For example, 'city of Saskatoon utilities" and the
 > accountBS> number. That's it.  Ditto for my cellphone account and cable
 > tv, for
 >BS> example. There is NO physical paper cheque generated, everything is
 >BS> done electronically.
 >
 > Account number = _bank_ account number of the payee _or_ your business
 > acount number with the business in question? Only the former would allow
 > for a true "electronic" transfer, and even then you'd need to include an
 > IBAN and BIC number (SWIFT) to be sure. With certain exceptions, where a
 > bank already has a direct deposit agreement with a payee (for example a
 > utility company) and may of it's own accord use direct acount transfers,
 > such "electronic" bill paying is, as I mentioned, done by check sent
 > through the mail. I'm not assuming this, as I've paid bills often enough
 > by this means.
 >
 > Incidentally, I also looked at the "Interac Online" part of the same
 > website you cited, as that claims to be a kind of direct account
 > transfer for Internet payments. But it is limited to a very few dealers
 > and you have to register for the service - this would be something
 > similar to the exception I mentioned above, where the bank already has a
 > direct deposit agreement with the payee. It is not comparable to the
 > direct deposit system we have here in Europe.


      *I* have no such agreement with my bank, yet anyone who knows my transit
and account number can deposit to my account.  For example, a tenant who rents
a suite I own pays her rent that way every month.  She triggers the payment,
and my account increases it's balance every time.  I need do nothing, and I
made no arrangements with the bank in regards to this.


 >
 >BS> When my son arranged banking for his business, he included auto
 >BS> payments from his bank. He receives an authorization from his
 >BS> customer, one sample blank cheque marked VOID, then submits that to
 >BS> the bank.
 >
 > That _is_ a direct account transfer, as the purpose of the check is to
 > provide the account details for a direct transfer. And the authorization
 > you speak of is precisely what I mentioned above, except that I called
 > it an "agreement".
 >
 > However, this is not what happens when you pay bills "electronically"
 > online from your own bank account.
 >

      No, it is an automated payment of the same amount every month fort a
recurring bill that is always the same.



      I would think that Canadian banking has changed considerably since you
lived in Montreal, and definitely the US system is not emulated here.





                       .....Bob

--- GEcho/32 & IM 2.50
 * Origin: http://www.fidonet.ca (1:140/12)