Bank errors: take charge over your account

Article Abstract:

Inadvertent overcharging of customers is turning banks into one of the most unpopular institutions in the UK. For instance, about 50,000 Lloyds Bank customers were overcharged some four million pounds sterling between 1991 and 1992 due to the bank's computing errors. There are quite a number of products and services designed to recompute bank charges that are available in the market. Among the software packages that have emerged are BankManager, BankcheK and Intercal. Firms that do not want to recheck charges themselves can outsource this function to third-party service providers, including BankCalc, Ashwood Finance and Shilton Hall Assoc. Fees for such a service differ, but they may prove little in comparison to the amounts that a bank may overcharge.

Management, Prices and rates, Bank fees, Bank accounts

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Banking on technology

Article Abstract:

The introduction of chip and PIN cards to prevent card fraud is proving to be nominally successful, but is not totally secure and fraud-proof. Some banks in Russia and Hungary are sending messages to cell phones of customers about their credit card transactions, which is proving more effective than chip and PIN and is also far cheaper.

Technology application, Control, Credit card fraud

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Payroll perspective

Article Abstract:

Payroll, which was the preserve of accountants, is now getting more popular in outsourcing. Payroll package, a potentially lucrative area, is among the top three most popular applications that accountants use in practice.

Use of services, Other Depository Credit Intermediation, Business Payroll Processing, Small and medium sized companies, Payrolls, Outsourcing, Payroll processing

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