Individual Assignment FIN263 - SEMESTER 3 PDF

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Summary

Assalammualaikum WBT. My name is Nur Hanny Najwa binti Mohd Shalleh. Today I will present to you about online transfer under topic remittance. Before we going through about online transfer. Do you know what is remittance about in banking operations and how does it work? Okay, let me share to you abo...

Description

Assalammualaikum WBT. My name is Nur Hanny Najwa binti Mohd Shalleh. Today I will present to you about online transfer under topic remittance. Before we going through about online transfer. Do you know what is remittance about in banking operations and how does it work? Okay, let me share to you about remmitance.

Remittance refers to money that is sent or transferred to another party. The term is derived from the word remit, which means to send back. Remittances can be sent via a wire transfer, electronic payment system, mail, draft, or check. Remittances can be used for any type of payment including invoices or other obligations. But the term is typically used to refer to money sent to family members back in a person's home country.

Okay next, I will present about online transfer. I know most of you use online transfer in daily life. Am I right? Okay, online transfer is where the old-fashioned concept of wiring money converges with the modern technology of electronic funds transfer (EFT). Online transfer allows people to send money simply by transferring it to another person....