Barry presents to Wake Bank for deposit in his account a check for $100 made out to him by Richard.Wake Bank provisionally credits Barry's account on Monday.When is payment final?
A) Midnight Tuesday.
B) Automatically at the end of the third business day.
C) When Richard's bank receives the check.
D) When the amount of the check is collected from Richard's bank.
Correct Answer:
Verified
Q21: Congress enacted the Truth in Savings Act
Q22: Dan drew a $100 check on ABC
Q32: A payor bank is required to dishonor
Q32: Under the Competitive Equality Banking Act,a nonlocal
Q35: If a drawer files a stop payment
Q38: The Electronic Funds Transfer Act governs electronic
Q41: A preauthorized electronic transfer from a consumer's
Q42: If Ben Stewart has a checking account
Q43: Which of the following is NOT a
Q44: A check drawn on a bank is
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents