Payment to a beneficiary is made at the earlier of the time when:

Question

Quizplus · Accepted Answer

According to the question, the payment to the beneficiary is made at the earlier of the time when the payment order is credited to the beneficiary's account or when notice of the credit is sent to the beneficiary. Hence, option A is the correct answer as it states that payment is made at the earlier of these two events. Option B and C are incorrect as they refer to the receiving bank's account and not the beneficiary's account. Option D is incorrect as it mentions the payment order being debited, whereas the question asks about the payment being credited to the beneficiary's account.

Payment to a Beneficiary Is Made at the Earlier of the Time