Abstract: A banking method including receiving an authorization from a customer to transfer funds belonging to the customer from a source financial institution as part of a closed banking transaction, where the receiving includes receiving the authorization separate from any instruction to transfer funds, providing at least one closed banking deposit option to the customer via a communications device for selection thereat, receiving a deposit option selection from the communications device, and transferring funds from the source financial institution in accordance with the deposit option selection, where the transferring includes effecting the transfer via an interbank clearing entity without requiring a specific approval from the source financial institution for the transfer.