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Design
and development of Speed Cash System [ SCS ]
The Speed Cash System is used to transfer
money from one place to another within a day. This is basically used to
speed up the money transfer. The necessary information for the money
transfer from the source bank to the destination bank is sent in the
form of file on daily basis. This file contains the information like
remitter details, beneficiary details and DD (Demand Draft) details,
etc.
Basically
the remitter is a person who sends the money and the beneficiary is the
person who receives the money. If the remitter has already an account
with the bank, the deduction at the back end should happen instead of
cash dealings. Once the file is received, it is processed and the data
is put into the database. Then it is again processed and DD is printed.
The printed DD will be handed over to the concerned person.
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