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Open Banking
Digital banking is talked about more every day, and with the BRSA's support in defining its scope, it is about to enter our lives. A 'digital bank' is a credit institution that provides banking services mainly through electronic channels rather than physical branches.
FAST
The Instant and Continuous Transfer of Funds (FAST) System lets customers send payment instructions 24/7 through bank systems, independent of EFT. This article explains what Easy Address is, how to register one and how transfers work.
Credit Card
For customers to use credit or ATM cards, the cards must first be printed. Here are the advantages and disadvantages of instant issuance and bulk printing, the two methods banks prefer.
Security
Fraud cases where scammers pose as bank staff or other institution employees to obtain citizens' banking information have increased significantly recently. Interestingly, the new fraud trend closely mirrors the steps of a genuine banking procedure.
FAST
An Easy Address is defined through the channels of the bank holding the account. Likewise, an Easy Address can be cancelled and deleted through the channels of the bank where the account is held.
Payment Systems
The BRSA has introduced a regulation to reduce paper use in POS devices. Cardholders who do not want a paper receipt for card purchases will be able to receive and store it digitally, with the rules taking effect in September and December 2023.
Credit Card
Banks welcome limit increase requests from customers with regular payments and a steady income, and they analyze each request in detail. Here are the channels you can use to submit one.
ATM
Moving branch transactions to channels such as ATMs, internet banking and mobile banking lowers banking costs, so almost every transaction can now be done through them. Here is what ATMs offer.
Credit Card
A financial card product issued against a primary card, with its own card number, expiration date, authority, limit, and PIN. Using a supplementary card is ideal for making purchases from more than one card while keeping all spending on a single statement.
Credit Card
Card-to-Card Money Transfer (CCMT) lets customers send money 24/7 from a credit, debit, or prepaid card to another card via ATM, internet banking, call center, or mobile app.
Online & Authorization
Online transactions grow every day in both number and volume, and so does the risk of fraud. Here are practical steps cardholders can take to shop online more safely.
Merchant & POS
In payment systems, an online transaction means the transaction is sent to the card or POS/ATM bank at the moment it occurs, and required checks are obtained from that system. So does every transaction happen online? Of course not. Especially with contactless...