Point-of-sale debit cards boost customer service, but don't slow collections
Article Abstract:
Corporations are experimenting with point-of-sale debit cards that replace or supplement customer checks; it is hoped that the use of electronic debits will speed collections, allow for more accurate daily cash calculations, and improve the accuracy of cash forecasting. Vons Grocery Company has initiated the use of point-of-sale debit cards so that customers may pay for purchases with their cards; improved customer service is Vons' primary objective. Vons is not on-line with the ACH, which would guarantee that funds are available in the customers' bank accounts; instead, Vons wants to make the decision to accept payment itself. The system has been in operation since December 1985, and benefits have not yet been determined.
Publication Name: Cashflow Magazine
Subject: Business
ISSN: 0196-6227
Year: 1986
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Federal guidelines alone won't ensure the stability of the bank you select
Article Abstract:
Although the U.S. Comptroller of the Currency is making regulatory efforts to determine capital adequacy standards, treasury managers should nonetheless impose their own standards for financial stability when choosing a financial institution. Assessing the financial stability of a bank should include: reviewing the bank's financial reports over a five-year period, examining its growth pattern during that time; carefully analyzing the bank's holding company (if it is owned by one); checking outstanding loans and bad-loan capitalization percentages; obtaining figures regarding off-balance sheet liabilities; and considering factors such as the bank's retail base, its profitability and direction.
Publication Name: Cashflow Magazine
Subject: Business
ISSN: 0196-6227
Year: 1986
User Contributions:
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