ELECTRONIC STATEMENTS FOR FOREX MERCHANT ACCOUNT HOLDERS

The most convenient and reliable way of the internet banking service is the electronic statement system which is obtained online. The credit card details or any other transaction details can be viewed instantly through the internet banking services. In the past, the statements could be obtained through the postal systems or printouts which resulted in delay of delivery and also various other reasons. Though the statements were important and urgent, the postal delay made it futile. A merchant account holder and the customers have to register for the electronic statement systems or services. Internet plays a significant role as it is used as a main channel through which these services are made effective.

A merchant account holder can get fast access to his account with the use of the internet banking services. Once the merchant account holder opens a new account, he/she has to fulfil the legal formalities placed by the banks. The application form contains the customer’s details like name, phone numbers, e-mail address, etc. Once it is verified by the bank officials, the information is updated in the database of the bank. Hence, we can say that the contact details are also registered as well. This system is very convenient as the programmed internet banking services sends a reminder of every bill payments, received funds, etc. Because of this, a customer cannot miss any bill payments that have to be made in time. The customers are also prompted through the e-mails. An e-mail is sent to the customer regarding important issues along with a copy of the bank account statement. Once it is registered, the credit card issuing bank updates every detail of the transactions made through SMS to the particular customer. The electronic statement shows the bank balances as well as other transaction records like deposits and withdrawals, etc.

It is considered as the most time saving concept in the internet banking services. With the use of credit card, there is no risk of you money being snatched anymore in the real world. Cash withdrawals can be done 24 hours a day using the ATMs. The customer can easily have a look on the latest transaction made as well as of the pasts. The transactions made through the ATMs are also prompted through e-mails or mobile services. This way a customer can get every small details of the card being use. If a customer looses the credit card and if someone uses the card to withdraw money, then the customer can easily get the details about where the transaction took place.

The internet technology has created an impact for the customers in the modern world. Though some charges are applied to the customers for using the information service, it is also safe and reliable. Some of the banks take about 3 months time to activate this service for the customers and some banks do it instantly within 24 hours from the date of issue. Hence, the modern banking systems provide electronic statements for merchant account holders. Contact one of our helpful account representatives to assist you in the setup of a high risk merchant account or offshore merchant account for a high risk merchant.