0
Why are companies in Australia able to refuse hard currency or Legal tender and demand payment by direct debit with no option for the former?
Wiki User
∙ 14y ago
Because legal tender just means that you have to use units of Australian currency, it doesn't mean that you must pay using any particular form of that currency. For example, a company could refuse to accept your payment if you paid $1000 entirely in 5c pieces.
Increasingly business is reliant on electronic transactions. Many operations are not set up to handle cash payments (for example, they lack secure facilities for keeping cash), and so they will request electronic payment instead.
Wiki User
∙ 14y ago
Add your answer:
Earn +20 pts
Can a bankrupt company demand payment of debt?
Only if they cannot provide services to you that were paid for.
Can you send credit cards 5.00 per month and do they have to accept it?
Most credit card companies demand a minimum monthly payment of 5% of your balance owed.If you owe $1000 your minimum payment would be $50.You can send any amount you want. However your balance owing will steadily increase. It will only affect your credit rating.If you pay only the minimum payment each month, it will take years for you to pay your bill.
Can stop payment of demand draft is possible in India?
To stop demand draft is difficult. A payee can only issue a complaint if draft is lost or destroyed. The issuer bank can then submit a lost or stop payment against the draft and will often re-issue a new one.
What is meant by demand draft?
A demand draft is a monetary instrument that can be considered as equivalent to cash. It is similar to a cheque but with a difference that it is fully safe because the drawer of the draft has to make the payment in order to get the draft. So, the receiver of the draft can be sure that he will get paid for the draft. That is why most schools and colleges expect payment via demand draft for their exam fees, admission fees etc.
What is meaning of credit confirmation in letter of credit?
A final demand for payment letter can be a very strong letter by a company that is demanding payment from one of its debtors. Despite many reminders and requests for payment, the company has not received payment from its debtors, which causes it to write a strong letter to imply harsher actions. From:
Why are demand deposits considered as money?
demand deposits can be withdrawn from the bank whenever it require. they are widely accepted as a means of payment, along with the currency. thus, it is considered as money
Why is Australia's currency strong?
The primary factors for Australia's currency currently being strong are: 1) High relative interest rates - makes it more attractive to hold 2) High commodity demand and consequently prices
What is the duration of Payment on Demand?
The duration of Payment on Demand is 1.5 hours.
When was Payment on Demand created?
Payment on Demand was created on 1951-02-15.
What are the ratings and certificates for I Demand Payment - 1938?
I Demand Payment - 1938 is rated/received certificates of: USA:Approved
What is currency Explain any three feature of modern Indian currency?
A currency is a unit of exchange ,facilating the transfer of goods or services It is authorised by the government of the country. It's demand and supply can be controlled by the central bank of the country . In India, the law legalised the use of rupee as a medium of payment that cannot be refused in setting transactions in India .no indiviual can legally refuse a payment made in rupees.
What are the release dates for I Demand Payment - 1938?
I Demand Payment - 1938 was released on: USA: 13 December 1938
Can credit card companies of deceased family member demand payment from spouse not on the account?
Yes, they can make a claim. The spouse is considered to have benefited from the debts.
What determines the value of a digital currency?
The main determinant is the demand for that currency.
Which companies offer videos on demand?
There are quite few companies that offer videos on demand. Netflix, Viaplay and webstreamlive are few examples of companies that offer videos on demand.
What is an on demand payment bond?
This is a type of credit enhancement that guarantees payment of an obligation and must be paid by the enhancer on the demand of the note or bond holder.
What is the future of web development companies in India?
India is getting the attention from the offshore outsourcing companies spread in countries like United States, United Kingdom, Singapore, Australia, etc. Companies are currently expanding in line with demand
