MLA will proceed with actual development and implementation if a minimum of users sign up for the new platfor MLA will proceed with actual development and implementation if a minimum of users sign up for the ne This announcement has understandably created major concerns for the many libraries that depend on the EFTS service. Many of you may recall purchasing and redeeming coupons. For many smaller libraries, EFTS is the only affordable solution.
Transfer pricing in the investment management industry
We determined that MLA has the expertise to develop a new platform that can provide enhanced service, use the latest technologies, and be sustainable at a lower ILL transaction volume. MLA will notify signed up users of its decision, at which time payment of the activation fee will be due.
You can request that we send you an electronic user agreement. You will have the option to:.
We aim to have the new platform launched in April In the days leading to the actual transition, expect several action items related to configuring your new EFTS account, so that all is set up prior to processing ILL transactions on the new system. Each library designates a manager. Managers are able to add or remove individuals assigned to their library account and to perform higher level roles such as financial transfers.
Managers can then assign multiple individuals to their library account.
Libraries with a positive fund account balance may transfer money out of their EFTS fund account. We are making it simple for you to transfer money between your library and your EFTS fund account.
Those are triggered by rules configured by your EFTS manager. The ILL Transaction configuration is available to libraries that are not allowed to carry a fund balance and that have been approved by MLA for this configuration. In the ILL Transaction configuration.
PRMIA Webinar - Bank Internal Funds Transfer with Moorad beymapro.ru
This is how it works:. Regardless of the configuration, lenders can review, adjust if necessary, and confirm their transactions before they are charged to the borrower s.
EFTS also allows lenders to credit transactions previously invoiced.
You are notified via email when there is a required action item e. To sustain EFTS operations, MLA will charge an account activation fee for all users, increase the transaction fee charged to lenders, and add a credit card transaction fee for libraries who use them.
Stay tuned for updates. All Rights Reserved. All material, files, logos and trademarks within this site are copyright their respective organizations. Contact Us Donate Advertise. Login Request Login.
Explore our services
Toggle navigation. Great news, and thank you!
Participating libraries are able to exchange funds for the payment of ILLs instead of creating their own invoices and writing checks to each other. Libraries will also indicate whether they want their current EFTS funds transfered to the new EFTS when the systems transition, or paid back to their library. OK Cancel.