What does MTOT mean on my bank statement?

Merchant Total Discount Fee
MTOT Disc is your Merchant Total Discount Fee. The charge is one that is levied by a variety of merchant account providers. It is essentially a processing fee. These fees can range, costing anywhere from a few bucks (sometimes as low as $40) to $150 annually.

What is synchrony Bank MTOT deposit?

MTOT definition: (Adj) An abbreviation of ‘MERCHANT TOTAL,’ meaning ‘merchant account total batch.’ It is often seen on business checking account statements. MTOT DEP means ‘merchant account total batch deposit.’

What is BTOT and MTOT?

MTOT Disc Meaning

BTOT and MTOT have become line items. With MTOT being the monthly total, BTOT is the bank total.

How does credit card batching work?

During batch processing, the merchant sends the authorization codes for every credit card transaction to its payment processor, and the processor categorizes the transactions by the bank that issued each customer’s credit card. Each of those banks then remits the payments to the merchant in a step called settlement.

Is a bank card a credit card?

What Is a Bank Card? A bank card is any card issued against a depository account, such as an ATM card or a debit card. Sometimes the phrase is also used to refer to Visa and MasterCards since these are also issued by banks, but they are credit cards and not linked directly to a depository account.

What is a bankcard deposit?

A bank deposit card is linked to business accounts and allows for electronic deposits at all ATM machines. Each deposit card has its own pin and all deposits are recorded on your monthly statements.

What does batched payment mean?

A batch payment is a group of payments made to a list of recipients from a single bank account. The batch list transaction shows up as a single debit on your bank statement. Batch payment processing leads to faster payments and happier merchants. The most common way to send a batch payment is with a bank wire transfer.

Why do banks use batch processing?

Batch processing is beneficial because it is a cost-effective means of handling large amounts of data at once. One caveat is that the inputs for the processing must be correct or else the results of the whole batch will be faulty, wasting time and money.

What is meant by batch processing?

Put simply, batch processing is the process by which a computer completes batches of jobs, often simultaneously, in non-stop, sequential order. It’s also a command that ensures large jobs are computed in small parts for efficiency during the debugging process.

What means batched status?

Batching transactions (also known as batch clearing, batch processing, and dual message processing), is when a merchant takes a “batch” of authorization requests and sends them to the processor to be settled.

What is Beftn in banking?

“BEFTN” means electronic payments and collection system that moving funds between different accounts in the different banks operated by Bangladesh Bank through Originating Bank and Receiving Bank.

What does it mean when a bank transfer is processing?

Processing is a broad term that describes the multi-step process of transferring funds from a customer to a merchant whenever a debit or credit card is involved in a transaction. Interbank clearing and settlement occur on the processing date.

What is evaluation in progress in TCS?

Originally Answered: What does “evaluation in progress” mean on the TCS portal after an interview? Hello. The message “Evaluation in progress” means, they are looking into your profile & assessing your interview. They would revert back to you in a few days. The process usually takes around 2.5 to 3 weeks.

How can I check my TCS application status?

Click on “Edit Application Form” to do this. Fill all the details – the green tick mark should appear on all the tabs. Once all the pages are done, click on “Submit Application Form” on the last page. Your status should show as “Application Received” when you click on the Track my Application link.

How can I check my offer letter in TCS portal?

We request you to report the matter to [email protected] connect with us on TCS Careers Serviceline on our toll free number 1800-209-3111.
  1. Click here to validate your offer letter.
  2. Validate through Mobile QR Code Scanner.
  3. Validate by clicking on the link on the offer letter.

What is next step after evaluated in TCS?

There are 3 stages once technical,managerial and HR discussion done.

What does evaluation in progress mean?

Two under review mean they are reviewing they did not make decision yet but evaluation in progress is mean they already reviewed but they continue to evaluate the candidate.

Does TCS reject after salary breakup?

You can wait. A week’s time is not much. If they have given you the salary break up and draft offer letter, they will most probably get back with offer letter.

What is TCS highest package?

The highest-paying job at TCS is a CEO/MD/Director with a salary of â‚ą116.2 Lakhs per year. The top 10% of employees earn more than â‚ą12.89 lakhs per year. The top 1% earn more than a whopping â‚ą24 lakhs per year.

Can TCS send rejection letter?

After HR interview in walkin drive off campus , do they inform about rejection ? Yes. They inform the applicants about the rejection.

How long does it take to receive letter from TCS?

Well, i came to know that TCS takes minimum of 15 days to give offer letter as well as joining letter.

What is the basic salary in TCS?

An average TCS salary for fresher or Entry level jobs starts from 35,000 to 50,000 rupees each month. If you have experienced for more than 2 year to 4 years then you will earn up to 8 lakhs to 12 lakhs. An employee with more than 5 years of experience can earn 15 lakhs to 20 lakhs in TCS.