What is remittance of funds?(functions of commercial banks)
Dear Student
Remittance funds refer to transfer of funds from one place to another. Remittance of funds is one of the functions of Commercial Banks. It is a transfer of funds by a foreign worker to an individual in his/her country. Banks transfers funds through the mail, telegraphic transfer, draft, cheque, online transfer etc.
Regards
Remittance funds refer to transfer of funds from one place to another. Remittance of funds is one of the functions of Commercial Banks. It is a transfer of funds by a foreign worker to an individual in his/her country. Banks transfers funds through the mail, telegraphic transfer, draft, cheque, online transfer etc.
Regards