Cable (telegraphic) money transfer

////Cable (telegraphic) money transfer

Cable (telegraphic) money transfer

Image credit kanooncurrency.co.uk

Image credit kanooncurrency.co.uk

ZIMSEC O Level Commerce Notes: Cable (telegraphic) money transfer

  • A method of sending and receiving payments.
  • Payments are made using telegraph,cable or telephone.
  • Payment is made in foreign currency.
  • Money is transferred from the debtor’s (importer’s) account to the creditor’s (exporter’s) account.
  • A safe and fast way of making payments.
  • Money can be insured during transit.
  • An expensive method of sending money because banks charge service fees.

To access more topics go to the Commerce Notes page.

By |2017-01-17T11:19:13+00:00July 25th, 2015|Notes, O Level Commerce Notes, Ordinary Level Notes|Comments Off on Cable (telegraphic) money transfer

About the Author:

He holds an Honours in Accountancy degree from the University of Zimbabwe. He is passionate about technology and its practical application in today's world.
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