A
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Allonge
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Attachment, prolongation of registered securities; allonges must be firmly attached to the main certificate and be stamped on the connection in such a way as to ensure that a separation can been seen.
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ANSI
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American National Standards Institute Committee, which develops national standards in the USA.
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Authorised person
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The authorised person describes a person who has the right to use an account (incoming payments, outgoing payments etc.). For this purpose each authorised person has a PIN as well as a list of TANs in the case of the use of online banking.
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AZV
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Foreign payment transfers.
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B
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Balance
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Balance of the account
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Bank
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A credit institute which keeps, lends and changes money.
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Bank code
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A number code identifying the bank. The bank code is a prerequisite for the automatic processing of payment transfers.
The following scheme (first place of the bank code) is maintained:
1. Banks with shares, bankers and special banks
2. Savings banks
3. Raiffeisen
4. Popular banks
5. Provincial mortgage banks
6. since the merger; BAWAG-PSK eliminated
7. Capital investment companies, credit guarantee companies, investment banks
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Bank supervision
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The current business activity of the banks is monitored in order to ensure the creditor claims against the banks and to guarantee the functional capability of the total banking system and the currency policy.
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BIC
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Business Identifier Code
The BIC is an 8 or 11 digit alphanumerical key and identifies a bank or an agency of a bank.
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BSE
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Undocumented cheque acceptance. In this case the cheques in question are no longer presented in documented form for payment to the bank on which they are drawn. These are bearer or order cheques in euro of up to 2,999.99 which have been drawn on a domestic bank. The cheque data is entered into the BSE process by the transmitting bank (undocumented data exchange).
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C
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Card holder
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A person to whom a credit or signature card is issued.
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Certificate
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1. In the widest sense of the word, a confirmation e.g. a certificate of origin.
2. Collective certificate concerning a certain number of shares, participation certificates, fund shares etc.
3. Registered tradable certificates which embody the ownership of a share in a non-American company (ADR).
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Cheque
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Means of non-cash payment
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Chip card
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Description of a card with an integrated storage chip, for example for holding the private code, the digital signature or to store a monetary amount for cashless payment. The data of credit card sized chip cards (smart cards) can be read by chip card readers.
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Clearing
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Cashless payment through the netting between members of the same group of participants (in particular banks). Internationally frequently also in different currencies.
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Contract currency
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The contract currency is the currency in which account transactions are carried out.
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Council of the European Union
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The Council of the European Union is the legislative body. The members of the Council are composed of the competent ministers of the EU participating countries.
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D
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Debit process
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With the agreement of its customers (debit authorisation) companies inform the banks on behalf of a large number of customers (insurances, electricity utilities) of the amounts to be debited directly to the accounts of the creditors. The transmission of the data is carried out electronically.
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Direct debit order
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Written order of a person obliged to pay to his bank with instructions to accept all debits from a specific creditor. This type of order is above all interesting for regular payments with fluctuating amounts.
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Direct debit process
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Direct debit transfer or debit transfer: authorisation and direct debit process. With the agreement on the debit transfers it is possible to retrieve receivables through the banking system.
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Distant volume
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Contracts concerning services through which credit card data are transmitted by internet, post, fax or telephone.
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DTA
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Data carrier exchange: Joint (operated by Swiss Interbank Clearing) payment transfer services of the banks for the rational payments process by means of standardised payment records (basis: data carrier and data transmission).
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E
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ECBS
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European Committee for Banking Standards. The committee responsible on a European level for standardisation questions in payment transfers.
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EDIFACT
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Electronic Data Interchange For Administration, Commerce and Transport: A comprehensive standard for the coding and transmission of different business documents. EDIFACT or UN/EDIFACT is supported by the United Nations; EDI is the US standard. The standard is multi-facetted, but the technical equipment and interventions into the data processing are also expensive.
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ELV
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Electronic debit process: Payment with the euro cheque card without use of secret code; signature suffices.
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F
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FATF
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Financial Action Task Force on Money Laundering: Is the most important committee for international cooperation against money laundering and financing of terrorism. FATF was established in 1989 in Paris. Its main task is to discover the methods of money laundering and terrorism financing, to develop effective counter measures and to standardise the policy regarding action against money laundering and terror financing on an international level with the least requirements.
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G
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GSA
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Geldservice Austria GmbH: The current processing and quality control of cash in circulation is carried out by GSA, a 92% subsidiary of OeNB (the remainder is held by Austrian banks). On average the banknotes in circulation in Austria are checked four times per annum by the high tech machines of GSA; in this respect special technologies are used for the recognition of falsifications. As a result GSA guarantees on behalf of the OeNB the high quality of the banknotes in circulation in Austria. http://www.geldservice.at/
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I
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IBAN
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International Bank Account Number: For the rationalisation of cross-border payments transfer the new IBAN was created by the ISO (International Organization for Standardisation) and ECBS (European Committee for Banking Standards). The presentation of original bank account numbers in a standardised IBAN format will simplify during the next few years the entering, transmission and processing of payment data in the European environment.
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Interest
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Interest is the price paid for making money available. In this respect the customer can either obtain interest from the bank for cash deposits (credit interest) or interest can be paid by the customer, e.g. for taking down a loan (debit interest).
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IPI
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International Payment Instruction: A standard, which was defined by the European Committee for Banking Standards (ECBS). This standard regulates the use of a payment order, which simplifies in particular the automated cross-border payment transfers.
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IZV
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Domestic payment transfers.
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L
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Liability shift
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In principle the trader bears the risk in E commerce if a card holder contests his payment. Through the use of the MasterCard SecureCode and Verified by VISA the risk for the payments which the card holder contests is, however, being shifted. This shift in risk is described as liability shift.
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M
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Maestro
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Automatic teller machine cards with Maestro functions are debit cards with which you can either withdraw money worldwide from teller machines or also at many banking machines.
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MBS
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Multi Bank Standard
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Micro payments
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Online payment of small and smallest amounts (usually cents).
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N
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Netting
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Agreed netting of mutual items of liabilities of business partners or participants in a payment system. The netting reduces a large number of individual items or liabilities to a lower number of items and liabilities. Netting can take place in different forms, which can be implemented legally to a differing extent in the event of the opt-out of a participant.
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O
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Online Banking
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By means of online banking (or electronic banking) you have access to your accounts or deposits via internet.
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P
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Payment system
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Blanket expression for systems for undertaking payment transfer tasks.
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Payment transfer
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One differentiates in general between payment transfers in cash and cashless payment transfers. Payment transfer in cash describes payment in banknotes and coins, with which the economy and the population are provided by the relative central bank. In the case of cashless payment transfer payments are made though book money, i.e. by cheque, remittance, debit and notes. Electronic payment transfer (electronic banking) represents a possible extension of cashless payment transfer. Since the 1960’s cashless payments are gaining increasingly in importance.
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PAYMUL
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The abbreviation PAYMUL stands for "Multiple Payment Order". These orders are sent to the banks by customers in order to have payments made.
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Phishing
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This word, which was formed out of "password" and "fishing" concerned the spying of incoming information with the use of psychological tricks. In so-called phishing mails it is for example claimed that the bank has a problem and must check your password. The link indicated in the mail indicates, however, a page which is similar to that of the apparent bank, but which only serves to gather the incoming information.
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PIN code
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The abbreviation PIN stands for "Personal Identification Number". In payments transfer this means the 4 digit code which you need for the use of your automatic teller machine card.
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Q
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Quick
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Quick is the electronic purse of Europay Austria. You can load these up at any teller machine or SB terminal and then subsequently use them for cashless payments – without code or signature.
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R
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Remittance
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Transfer of money from one account to another (non-cash transactions).
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S
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SEPA
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Single Euro Payment Area (definition of EPC procedures)
SEPA is the idea of a uniform European payment transaction area.
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Settlement
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The actual fulfilment of the payment order, i.e. the remittance of the payment from the dispatching bank to the recipient bank. This remittance is carried out via a central partner. It has a debt liberating effect on the payment creditor.
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Signature
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The digital or electronic signature is required for the identification of different communication partners which are exchanging information electronically. The data is transmitted in coded form and can thus be read only by the addressees (through the use of the correct key).
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STP
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Straight through processing: Used in the payment transfer area for the automated full processing of payments (i.e. from the issuer of the order to the final recipient); the abbreviation is also used in connection with securities, but does not have the same significance.
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SWIFT
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Society for Worldwide Interbank Financial Telecommunications - SWIFT enables the worldwide exchange of payment transfer communications.
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T
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TAN
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Transaction number. This serves to undertake payments per online banking.
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TARGET
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TARGET (Trans-European Automated Real-time Gross settlement Express Transfer System) is the European payment transfer system for cross-border payments. The national systems were linked together in order to create a standardised platform for cross-border euro payments.
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Truncation
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Truncation is a special type of credit processing whereby the original documentation stays at the institute where it was originally presented. In contrast with the traditional processes neither the original document nor a copy is transferred but only the data of the coding line or reference respectively. The information transmitted corresponds to all the requirements of data processing.
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