Could any one please let me know about EFT (Electronic fund transfer)application testing and the procedures which need to follow? what kind of testing has to be performed ? and also about loayalty services?

Thanks in advance.

Regards,
Sadhu

Hi,

EFT is the process of transferring the funds electronically from one bank account to another. This particualr activity is normally carried out by accounts payable department of an orangantion. The process involves creation of a payment batch where in we pull out all the payments which are due on certain date and we will generate an EDS file which is sent to the bank. The Bankers intern will process this file with in a stimulated time.That results in transfer of funds from our Bank account to the vendors accounts...

The following is list of items which can be tested.... for EFT
-> Check whether the payment batch contains all the payments due on the given date
-> Whether the EDS file is properly sent to the bank.
-> Check the time it is taking to complete this process.
-> check whether it is pulling up the correct bank data of the vendors.

Loyality: Loyality is a periodical payment made to the land lords and it is also related to accounts payable...

Please let me know if you require any further information on it.

Regards,
Narin Kamuni

There are three vital components in the EFT process.
1. Verify that the bank/account credentials given by the user is correct.
2. Once verified payment details are sent.
3. In case of any dishonor of payments (Insufficient fund etc), charge back processing.

There may be different types of EFT, One time (e.g. Bill payment), or periodical payments (Mortgage, Payroll etc).

There would be a central EFT house who would regulate all these transactions between the banks/financial house. In India it is the RBI.

Verify that the payment details and bank details are correctly and timely captured in the payment file to be transmitted. The file should be machine readable, and as per the guidelines from the EFT house.

Normally payment batches would be created before the due date and a payment file will be generated to be transmitted to receiving/originating bank. On the payment due date these batches will be automatically processed.