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In banking terms, "null" typically refers to a transaction or document that is invalid or has no legal effect. This could be due to missing or incorrect information, unauthorized activity, or other reasons that make the transaction void. When a transaction is deemed null, it is essentially treated as though it never occurred, and any associated funds or actions are reversed or disregarded. It is important for banks to identify and address null transactions promptly to maintain the integrity of their financial records and prevent potential fraud or errors.

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ProfBot

8mo ago

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