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What are charges that your bank must pay if you use an ATM that is foreign meaning not owned by your bank?
interchange fees
What is the reason for overdraft charges from a bank?
Bank overdraft charges are the result of someone spending more money than they have in their bank account. The bank then charges interest on the overdrawn amount.
Calculation of lc confirmation charges?
LC confrmation charges is the charges paid to confirmation bank and born by the applicant, normally a confirmaton bank is bank which give the payment on the presentation of documents by applicant,s bank
You get paid by check if you get bank charges who pays?
The person who receives the cheque payment (You) pays the bank charges.
What is bank services charges?
it is the value of what you are offered in the bank.
What are charges that your bank must pay if you use an ATM that is foreign meaning not owned by your bank?
interchange fees
Why are there charges on the usage on mt103?
Charges on MT103 transactions can vary depending on the financial institutions involved in the transaction. Typically, the charges may be imposed by the sending bank, intermediary banks, or the receiving bank to cover processing fees associated with the transfer of funds. It's important to check with your bank to understand the specific charges that may apply to your MT103 transaction.
What is the reason for overdraft charges from a bank?
Bank overdraft charges are the result of someone spending more money than they have in their bank account. The bank then charges interest on the overdrawn amount.
What is journal entry for bank charges?
bank charges a/c debit to cash a/c credit
What journal entry is needed to debit for bank service charges?
[Debit] Bank service charges [Credit] Bank account
What is the journal entry for bank services charges?
[Debit] Bank service charges xxxx [Credit] cash / bank xxxx
What does Bank charges mean?
what does banking charges mean
Calculation of lc confirmation charges?
LC confrmation charges is the charges paid to confirmation bank and born by the applicant, normally a confirmaton bank is bank which give the payment on the presentation of documents by applicant,s bank
You get paid by check if you get bank charges who pays?
The person who receives the cheque payment (You) pays the bank charges.
What is bank services charges?
it is the value of what you are offered in the bank.
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 are the accounting journal entries to record imported inventory including custom duty and taxes?
1) stock-in-transit(bank charges) 10 to bank 10 2) stock-in-transit(invoice value) 80 to supplier 80 3) stock-in-transit(clearing charges) 20 income tax(if claimable) 10 to clearing agent 30 4) clearing agent 30 to bank 30 5) supplier 80 to bank 80 6) inventory(10+80+20) 110 to stock-in-transit 110
