What is the difference between Bank Lodgements and Credit Transfers?
Credit Transfer: Refers to a payment mode in which an amount of money (credit) is transferred directly from one account to another, in the same or different bank.
Then what is Bank Lodgement?
If the lodgement is brought forward to the branch of the same branch as the account to be credited, then it is a Bank Lodgement. If it is brought to another branch or bank, other than the account-holding branch, for transmission to the account-holding branch, then it is a Credit Transfer.
However, it looks like Credit Transfer is often used loosely for all.
Subscribe to:
Post Comments (Atom)
-
Gartner Report on the Magic Quadrant for Analytics and Business Intelligence Platforms as of February 2021. -
If you have been reading the mainstream media or the social media, it is likely that you would have heard of SimplyGo - an initiative by the... -
Installed FortiClient recently but the challenge in disabling the application/service from running automatically on every start-up annoyed m...
-
ActiveSG is a national initiative from the Singapore government to encourage all to stay healthy and keeping fit. Membership registration i... -
I was in the main National Library 8th floor working on a project. At the entrance, I overheard the security officer stopped a group of peop...
No comments:
Post a Comment
Do provide your constructive comment. I appreciate that.