Its open architecture enables easy transfer of account
and customer order data into VAS as well as provides easy transfer of processing information from VAS to other systems.
FleetBoston Financial announced today the successful completion of the first of three divestitures to Sovereign Bancorp, completing the required transfer of account
data and assets last evening.
The implementation of all rules will not be possible during this year and the SAMA has therefore allowed certain ones, such as the transfer of accounts
between local banks, to be completed in January of 2014.
Seller will train and guarentee transfer of accounts
Subject to regulatory approval, the closing and transfer of accounts
is scheduled for mid-November, 1993.
The transfer of accounts
began when American Bank relocated the branch on Friday, September 29, at 2:00 p.
AHC recently implemented a successful document imaging solution which dramatically cut the time and costs associated with paper transfer of accounts
Although an agreement has been signed by both banks, no official date for transfer of accounts
has been established, pending approval by regulatory agencies.
FIIS gross sales through advisors, including Rollover IRAs and transfer of accounts
from other institutions, increased to $477.
The sale of the credit card portfolio, which has about 300,000 accounts and $450 million in assets, is expected to close in September with transfer of accounts
to be completed in October.