For trips abroad, technology offers new alternative to traveler's checks

Article Abstract:

Travelers in foreign countries save money by using automatic teller machines (ATMs) to convert dollars to foreign currency. The number of ATMs in other countries is increasing fast. Travelers can use ATM cards issued by their local banks, just as they do in this country. Advantages of using ATM machines include 24-hour access and low rates. Machines charge at the wholesale rate, which applies to large foreign transactions. Travelers can use American Express, Diners Club, MasterCard and Visa cards to exchange money, but this can cost more because money obtained in this way is a loan, and interest is therefore charged for it. Even so, for card users who pay their bills in full every month, cash advances can cost less than traveler's checks.

Usage, Special purpose terminals, International aspects, Travel industry, Automated teller machines, Special-Purpose Terminal, Credit Authorization, Traveler's checks

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Unisys to unveil image processor for banks to help handle checks

Article Abstract:

Unisys Corp announces a check-processing system for banks. The new system uses image-processing technology, which some computer companies see as a driving force for future sales. Companies need good examples of how to apply image processing in order to arouse interest among customers. Unisys's system constitutes the first part of what will be a multipart strategy. The system consists of a high-speed scanner, a dedicated disk drive, a printer, an encoder and numerous workstations. The system will route work efficiently and will note checks that want special handling or are for large amounts. Unisys says that such a system will cost $5 million to $6 million, adding that it should pay for itself in about three years.

Computer and Office Equipment, Banking industry, Product introduction, Information management, Unisys Corp., UIS, Image processing, Marketing Strategy, Check collection systems

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Comptroller expected to ease proposed loan limit formula

Article Abstract:

The proposal implementing the increase in national bank loan limit to individual borrowers to 15% will probably be revised by the Comptroller. A primary concern of the current proposal is the requirement to aggregate certain loans, which, bankers say, would deny them the 5 percentage points given by law.

Finance, taxation, & monetary policy, Laws, regulations and rules, Bank loans, United States. Office of the Comptroller of the Currency

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