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What made it possible for someone to put money in the bank at one location and withdraw it from another?
Wiki User
∙ 11y ago
The bills of exchange.
Wiki User
∙ 11y ago
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How come one can withdraw money from a bpi family passbook even if the account is not under her name and without approval from the depositor?
You cannot. No bank would allow someone to withdraw money from another persons bank account without their approval. Trying to do so is illegal and you can be jailed for it. Also, if a bank is lax in its security precautions and allows such transactions, the bank can be closed by the central bank.
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A wire transfer is where money is sent to someone else at another location,a transfer is when money is taken from one account you hold and put into another account you hold. It's a different process. A transfer is usually much quicker than a wire. I don't know how helpful this was, but there you go.
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Dear Sir, My name is John Smith my account no.123-456-0000-39, I would like to withdraw USD 100,000 from my account to someone else on my behalf his name is Mr. Icuk. In connection with the above mention Here we attach important data such as: 1. The letter of Authority 2. Copy of my passport 3. Passport copy of Mr. Icuk Thanks for your attention. Regards, John Smith
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