A debit memorandum would NOT be issued by the bank for
A) certifying cheques.
B) the issuance of traveller's cheques.
C) transferring funds to other locations.
D) an electronic funds transfer received from a customer's account.

Question

Quizplus · Accepted Answer

A debit memorandum is issued by a bank to notify a customer of a decrease in their account. Options A, B, and C involve actions that would decrease the customer's account balance, thus warranting a debit memorandum. However, option D, an electronic funds transfer received from a customer's account, actually increases the account balance and would not result in a debit memorandum.

A Debit Memorandum Would NOT Be Issued by the Bank