This system can transfer salary within a moment in the bank and for this purpose no need all the employee individual account opening. Money withdrawal can be everyone's own account. EFTN is a software bases data transfer system . It is logically connected with data centre and central bank database.
EFTN started in Bangladesh in 2011 through the guideline of central bank (Bangladesh bank) Government all accounts came under this eFTN software in 2012.
Working Process Any bank can send money transfer request up to 12.00PM to the bangladesh bank. Bangladesh bank database automatically execute it and eligible fund for the respective person up to next morning 9.00AM.
As for example , suppose one company want to all the employees salary transfer of their individuals account, The company no need to open all the employees individual account in the specific bank. Just company authorize person send a mail including some of information like employee name, amount of money, name of the bank, name of the branch of the bank, account number, routing number to the bank.
This system popular day by day , Even recently per day transaction over 318 cr, taka in Bangladesh.This eftn system rapidly change in the financial or banking sector. Any company can easily paid their employees salary within few minutes , eFTN system reduces time and increases performance. No need to DD before 7 days like previous system. It gives a speedy time ,work and labors.
No comments:
Post a Comment