Would the remitting customer receive an acknowledgement of money credited to the beneficiarys account?

April 26, 2017account Acknowledgement Beneficiary credited customer money remitting

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Would the remitting customer receive an acknowledgement of money credited to the beneficiarys account?

2 Answers

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The remitting bank receives a message from the Reserve Bank that money has been credited to the receiving bank. Based on this the remitting bank can advise the remitting customer that money has been delivered to the receiving bank.

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Ans The remitting bank receives a message from the Reserve Bank that money has been credited to the receiving bank. Based on this the remitting bank can advise the remitting customer that money has been delivered to the receiving bank.