Most banks charge ________ for moving cash from one location to another.

Question

Quizplus · Accepted Answer

Transaction costs are the cost of exchange. Every time a firm changes cash from one currency into another currency it must bear a transaction cost-the commission fee it pays to foreign exchange dealers for performing the transaction. Most banks also charge a transfer fee for moving cash from one location to another; this is another transaction cost. The commission and transfer fees arising from intra-firm transactions can be substantial.

Most Banks Charge ________ for Moving Cash from One Location