1. Accion banks must process a high number of tiny loans, each time incurring a separate transaction cost. 2. All banks process information. 3. No law governs the order in which a bank must process deposits or checks. 4. Normally banks process checks by putting them through an optical scanner, which reads the account number. 5. Regulators will allow the bank to process deposit withdrawals, a Finance Ministry official said. 6. Regulators will allow the bank to process deposit withdrawals, the Finance Ministry said. 7. Retailers who accepted a check written in Maori, or any other language, risked problems when banks processed the check, he said. 8. Fraser said the bank processed four million transactions a day and more than one billion a year and had not seen an error like this in years. |