When a wire transfer is involved,a bank that issues an erroneous payment order has the burden of recovering the payment from the improper beneficiary.

Question

Quizplus · Accepted Answer

This is true. When a bank issues an erroneous payment order for a wire transfer, they are responsible for recovering the payment from the incorrect beneficiary. This is because the bank is the one that initiates the wire transfer, so they are the ones who bear the responsibility of ensuring that the payment is made to the correct recipient. If they make a mistake, they must take steps to correct it and recover the funds.

When a Wire Transfer Is Involved,a Bank That Issues an Erroneous