1994-07-01, English, Article, Journal or magazine article edition: Rerouted bank numbers may disrupt corporate services. (Trends: Cash Management) Arnette, Denise A.

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Bookmark: http://trove.nla.gov.au/version/110638659
Physical Description
  • 803 words
  • Magazine/​Journal article
Published
  • CFO Publishing Corp., 1994 July
Language
  • English

Edition details

Title
  • Rerouted bank numbers may disrupt corporate services. (Trends: Cash Management)
Also Titled
  • Rerouted bank numbers may disrupt corporate services.
Appears In
  • Corporate Cashflow Magazine, v15, no.n8, 1994 July, p12(2) (ISSN: 1040-0311)
Author
  • Arnette, Denise A.
Published
  • CFO Publishing Corp., 1994 July
Physical Description
  • 803 words
  • Magazine/​Journal article
Subjects
Target Audience
  • Trade
Summary
  • The American Banking Assn.'s Routing Number Administrative Board is scheduled to completely overhaul bank routing numbers before July 1995. These numerals serve as a bank's electronic address as they inform the Federal Reserve and other financial institutions where checks, wires, electronic transfers and other transactions should be sent. To streamline this firmly entrenched identification system, the ABA plans to cut the number of routing numbers in use, promote the movement of electronic transactions, facilitate the identification of next-day items and conform to the 'control' aspect of controlled disbursement. The project is expected to cause a communications nightmare because every bank will need to establish a new address. The ensuing chaos is likely to disrupt corporate banking services, particularly controlled disbursement.
Terms of Use
  • COPYRIGHT 1994 CFO Publishing Corp.
Language
  • English
Database
  • Gale General OneFile
Identifier
  • 15590879

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