Deduct from beneficiary: Difference between revisions
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''Banking.'' | ''Banking.'' | ||
The | The practice of deducting bank fees directly from an amount being transferred. | ||
The amount received in the beneficiary's account is reduced by the amount of the fees. | |||
This practice is common in some countries where a correspondent bank is used to effect a cross-border payment. | |||
== See also == | == See also == | ||
* [[Beneficiary]] | |||
* [[Correspondent banking]] | * [[Correspondent banking]] | ||
[[Category:Cash_management]] | |||
[[Category:Liquidity_management]] | |||
Latest revision as of 17:54, 29 June 2022
Banking.
The practice of deducting bank fees directly from an amount being transferred.
The amount received in the beneficiary's account is reduced by the amount of the fees.
This practice is common in some countries where a correspondent bank is used to effect a cross-border payment.
