Accounting JAMB

In a modern day banking system; cash transfer cannot be made where the transferor?

A. has no sufficient cash with the bank
B. has no account with the bank
C. does not reside in the bank’s country
D. does not possess the domestic currency

Correct Answer:

Option A – has no sufficient cash with the bank

Explanation

You can’t transfer money when you do not have a sufficient amount of money on the account.

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