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What is an instrument in banking terms?
Instrument is any source document which can be used to carry out a financial transaction. For example, Cash deposit voucher, check deposit voucher, Check are some of the instruments. Instruments includes:What is the transaction to be carryout (i.e Cash deposit voucher is used to deposit cash into an account)Value of the transaction (Amount in Figures etc...)Additional particulars of the transaction (Account Numbers, Names, Reference Numbers, Addresses etc...)Instrument is a vital document for a bank because, all bank transactions are generated by an Instrument.
What does CD In-charge means in a bank?
current deposit incharge which supervise transaction in current manner what is withdrawl/deposit through cash and remittances
Can a bank wire transfer be reversed?
It Depends. Yes - If the transaction is currently in progress and deposit instructions are not yet sent to the receiving bank No - If the transaction is completed or if deposit instructions are already sent to the receiving bank and the receiving bank has already acknowledged the receipt of the same
What is conduct banking?
If a person is conducting banking, it means that they are performing a transaction. This could be a deposit, a withdrawal, or taking out a loan.
What's the cash deposit limit that will have to be reported to the government?
if you buy a car and pay cash will the dealership report the transaction to the government?
What is a sentence with the word transaction?
Each time you deposit in or withdraw money from the bank you create an accounting transaction.
What is an instrument in banking terms?
Instrument is any source document which can be used to carry out a financial transaction. For example, Cash deposit voucher, check deposit voucher, Check are some of the instruments. Instruments includes:What is the transaction to be carryout (i.e Cash deposit voucher is used to deposit cash into an account)Value of the transaction (Amount in Figures etc...)Additional particulars of the transaction (Account Numbers, Names, Reference Numbers, Addresses etc...)Instrument is a vital document for a bank because, all bank transactions are generated by an Instrument.
What does CD In charge means in a bank?
current deposit incharge which supervise transaction in current manner what is withdrawl/deposit through cash and remittances
What does CD In-charge means in a bank?
current deposit incharge which supervise transaction in current manner what is withdrawl/deposit through cash and remittances
WHAT IS EMD guarantee?
Earnest Money Deposit. It is show the seriousness of the buyer in carrying out the transaction
Substantive procedures to audit prepaid deposits?
See the reason for deposit. Then how Deposit was created and check relevant agreement/support that the deposit is long-term or short term... Be Alert for Related Party Transaction.
Can a bank wire transfer be reversed?
It Depends. Yes - If the transaction is currently in progress and deposit instructions are not yet sent to the receiving bank No - If the transaction is completed or if deposit instructions are already sent to the receiving bank and the receiving bank has already acknowledged the receipt of the same
What is the maximum check deposit before a bank notifies IRS?
Once a deposit reaches $10,000 or above, the bank or depositing institution must automatically notify the IRS of the transaction. While they can report smaller transaction, at $10,000 or above, notification is legally required.
What is a half down non refundable deposit?
A half-down non-refundable deposit would be a 50% deposit on what you're making the deposit on (a $700 per month rent apartment might require a half-down deposit, i.e. $350), this deposit will not be returned at the end of the term / deal / transaction.
Why do business people prefer the Current Account?
as there are no transaction limits, deposit limits as compared to savings account
Is a transaction code used for bank transactions?
Transaction codes are used by banks to determine what time if transaction has occurred at the bank. Everything from a code used for a deposit to a checking account to another different code used to make a loan payment.
What is conduct banking?
If a person is conducting banking, it means that they are performing a transaction. This could be a deposit, a withdrawal, or taking out a loan.
