Investopedia

Continue to Site »

Interbank Network for Electronic Transfer - INET

Filed Under » , , , ,
Dictionary Says

Definition of 'Interbank Network for Electronic Transfer - INET'

Worldwide network that facilitates the transfer of debit and credit card transactions between financial institutions. INET covers any transaction made by a card bearing the Mastercard logo, debit or credit. INET deals with the actual transfer of funds, while international card authorization system processes the card authorizations.
Investopedia Says

Investopedia explains 'Interbank Network for Electronic Transfer - INET'

Mastercard International's card authorization system (INAS) and INET have been combined into a single entity named BankNet. BankNet effectively processes both the authorization and transfer of all Mastercard transactions worldwide.

Articles Of Interest

  1.

    The Evolution Of Banking

    Banks are a part of ancient history. Find out how this system of money management developed into what we know today.

  2. Are Your Bank Deposits Insured?

    Learn how the FDIC is helping to keep your money in your pockets.

  3. Your First Checking Account

    This owner's manual will show you what to expect from your bank.

  4. Choose To Beat The Bank

    From internet banking to credit unions, it's in your power to cut fees and maximize service.

  5. Automating Your Bill Payments

    Automation can be a painless (and free) way to remove the stress of bill scheduling from your life - if you do it right.

  6. When Good People Write Bad Checks

    Overdraft protection can help when you overestimate your balance, but it will cost you.

  7. Financial Designations That Employers Require

    We break down the designations that are important to have if you want to work in the financial sector.

  8. What's On A Consumer Credit Report?

    A look at the various components and considerations that go into one's credit report and credit score.

  9. 7 Unconventional Ways Businesses Can Borrow Money

    Find out how your business can get the money it needs - even when the bank says "no".

  10. Taxable Rewards To Be Aware Of

    Find which benefits from reward programs count as income in the eyes of the IRS.
comments powered by Disqus
Marketplace
Hot Definitions

  1. Winner's Curse

    Because of incomplete information, emotions or any other number of factors regarding the item being auctioned, bidders can have a difficult time determining the item's intrinsic value. As a result, the largest overestimation of an item's value ends up winning the auction.

  2. Glocalization

    A combination of the words "globalization" and "localization" used to describe a product or service that is developed and distributed globally, but is also fashioned to accommodate the user or consumer in a local market.

  3. Disaster Loss

    A special type of tax-deductible loss, similar to a casualty loss, where a loss has been incurred by taxpayers who reside in an area that has been designated as a federal disaster area by the President.

  4. Fool In The Shower

    The notion that changes or policies designed to alter the course of the economy should be done slowly, rather than all at once.

  5. Pattern Day Trader

    An SEC designation for traders who trade the same security four or more times per day (buys and sells) over a five-day period, and for whom same-day trades make up at least 6% of their activity for that period.

  6. Cost-Push Inflation

    A phenomenon in which the general price levels rise (inflation) due to increases in the cost of wages and raw materials.
Trading Center